AI technology incites the insurance industry's original appearance, underwriting, billing, and claims

In the past, artificial intelligence (AI) was often associated with robots or games like chess. However, you may not realize that the insurance industry has been one of the most active adopters of AI technology globally. This is because the insurance sector deals with numerous unpredictable events, and pricing policies requires a sophisticated risk assessment mechanism. AI technology works by collecting large volumes of data, analyzing it through cloud computing, and enabling machines to continuously learn and improve their understanding. This allows for better decision-making support. Lin Jinsui, Senior Vice President at Fubon Property and Casualty, explained that due to the nature of the insurance business, AI has become an essential tool. The industry uses AI for risk evaluation, streamlining operations, and even standardizing insurance products to ensure efficiency and consistency. With the advancement of AI, the entire operational model of the insurance industry is being transformed. In the past, insurance companies dealt with tens of thousands of data points, which could be managed manually with the help of actuaries. Today, however, data volumes have exploded to hundreds of millions, making it impossible to handle without technological assistance. Lin Jinsui used the Double Eleven shopping festival as an example. One Chinese insurance company sold 100 million policies in a single day. To assess and issue these policies efficiently, AI leverages open data, IoT technology, and historical policyholder information to determine eligibility and detect fraud, significantly improving the underwriting process. Moreover, AI plays a crucial role in insurance marketing. It enables personalized and targeted advertising through online platforms, apps, and mobile services. By analyzing consumer behavior, AI can identify individuals who match specific criteria and offer tailored insurance solutions. Whether it's underwriting, billing, or claims processing, AI makes these tasks faster and more accurate. Fubon Property & Casualty began implementing AI in 2016, launching a series of digital insurance policies. In the first year, they sold 400,000 policies, doubling to 800,000 in 2017, and aiming to reach over one million by 2018. This growth demonstrates how AI can drive exponential expansion for insurers. Looking back, the rapid demand for electronic insurance policies would have been impossible to manage without AI-driven risk assessments. Without such technology, the industry would have struggled to meet the growing market needs and capture its share of this massive opportunity.

Wireless CPE

What is 5G CPE?

Definition of 5G CPE
CPE stands for Customer Premise Equipment. The so-called front end refers to the equipment in front of the customer's terminal equipment. When we use Wi-Fi, if the distance is far, or there are more rooms, it is easy to appear signal blind spots, resulting in mobile phones or ipads or computers can not receive Wi-Fi signals. The CPE can relay the Wi-Fi signal twice to extend the coverage of Wi-Fi.

What are the benefits of CPE?
Through the following comparison table, it is not difficult to understand the technical advantages of CPE products:

* Currently, the global 5G FWA service is mainly in the Sub-6GHz band, with only the United States and Italy supporting the millimeter wave band.

* 5G CPE integrates the low cost of Wi-Fi and the large bandwidth of 5G, combining the advantages of the two to form a strong complement to traditional fiber broadband.

The relationship between 5G, FWA and CPE
It can be said that FWA (Fixed Wireless Access) will be the most down-to-earth application of 5G technology. FWA business plays a key role in enabling "connecting the unconnected." FWA is a low-cost, easy-to-deploy flexible broadband solution. Compared with wired access technology, FWA has been an ideal choice for deploying broadband in many countries and regions because it does not need to obtain rights of way, dig trenches and bury cables, and drill holes through walls. The development of 5G technology is further promoting the development of FWA.

FWA services (including 4G and 5G) have reached 100 million users. FWA is no longer a niche service; The FWA industry as a whole has been supported by numerous suppliers. Why is that? In the 5G era, 5G CPE receives 5G signals from operator base stations and then converts them into Wi-Fi signals or wired signals to allow more local devices to get online. For operators, the initial user penetration rate of 5G is low, and the investment is difficult to realize quickly; The CPE business can use the idle network to increase revenue for operators, so major operators vigorously promote the development of 5G CPE.

FWA services can be used for both home (To C) and business (To B), and customers have different requirements for CPE devices when using FWA services in different application environments, resulting in consumer grade 5G CPE and industrial grade 5G CPE (similar to home routers and industrial routers).

In 2020, the global market size of 5G CPE will reach 3 million units, and it is expected that in the next five years, the market size of 5G CPE will maintain a compound growth rate of more than 100%, reaching 120 million units in 2025, with a market value of 60 billion yuan. As an important market for 5G CPE, China's 5G CPE market size will reach 1.5 million units in 2020 and is expected to reach 80 million units in 2025, with a market value of 27 billion yuan.

The difference between 5G CPE and other devices
CPE can support a large number of mobile terminals that access the Internet at the same time, and the device can be directly inserted with a SIM card to receive mobile signals. CPE can be widely used in rural areas, cities, hospitals, units, factories, communities and other wireless network access, can save the cost of laying wired networks.

A Router is a hardware device that connects two or more networks, acts as a gateway between networks, and is the main node device of the Internet. Routers use routes to determine the forwarding of data. If it is a home router, it does not support a SIM card slot, and can only receive signals by connecting to optical fiber or cable and then convert it into WI-FI to provide a certain number (several) of terminal devices to surf the Internet.

Industrial 5G CPE is equivalent to 5G industrial routers, and the technology of the two is not very different. On the one hand, the industrial 5G CPE converts 5G network signals into WiFi signals for transmission, and on the other hand, the data received by the WiFi network is converted into 5G network signals for uploading. In addition, industrial 5G CPE generally supports routing functions.

5G CPE trends
According to a research report, after evaluating the products of some mainstream 5G CPE suppliers, many institutions believe that the development of 5G CPE products will continue in two aspects: one is to support mmWave and Sub-6 GHz at the same time; Second, the design will pay attention to humanized operation and installation. The industry development trend will accelerate the demand for 5G in the medical, education and manufacturing industries due to the epidemic, and 5G FWA will promote global 5G CPE shipments.

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Shenzhen MovingComm Technology Co., Ltd. , https://www.movingcommtech.com