Based on a literature review and qualitative interviews with AI experts, this thesis examined how artificial intelligence and RPA affect the insurance business and its business processes, as well as what kind of solutions artificial intelligence and RPA offer and what the risks are.
The conclusion of this work is that RPA has a long history of utilisation in the insurance busi-ness, but the potential opportunities brought by creative AI and the potential competitive ad-vantage that it will bring insurance companies will be seen in the coming years.
Successful change requires the involvement of the entire staff. The challenge for insurance companies is how to utilise information from any old information systems and how the current information corresponds to the company's decision-making in the future. In addition, EU legis-lation affects artificial intelligence in Europe, making solutions defined as high-risk more ex-pensive to implement than, for example, in the United States. Artificial intelligence solutions will also facilitate insurance tendering, and examples of these can already be found in the United States and Great Britain, for example. At the same time, insurance products, such as car and home insurance, will be renewed along with technological development
