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Use of Artificial Intelligence - PDF
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Added on 2021-06-01
Use of Artificial Intelligence - PDF
Added on 2021-06-01
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Chapter 3: Methodology3.1 IntroductionIn the previous chapter, the literature regarding good claims management and the implicationof Artificial intelligence in insurance sector specifically in claims management has beendiscussed. This research is an exploratory study regarding the current and potential use ofartificial intelligence in achieving the improved claims management. As also previouslydiscussed in introduction chapter, the objectives of this research are:To identify key factors of successful claims management process in insuranceCritically explore the potential of Artificial Intelligence in insurance specifically inclaims management process.Barriers and challenges to implement Artificial intelligence in Claims managementprocess by comparing the theoretical potential to its actual potentialTo make recommendation to overcome those challenges and how it improves theClaims Management Process.By reviewing the literature, the theoretical aspect of first, second and third objectives havebeen discussed. However, to understand the practical aspect of these objectives for examplebarriers and challenges that claim management face in real world to implement AI in itsprocess and the actual potential of AI in claims management needs further research and datacollection from insurance professionals and by knowing from their practical experience inclaims and the use of Artificial Intelligence.The research methodology an important part of the research process as it allows to collect theinformation that is required to find out the answers of research questions. A researchmethodology should be planned according to the questions that need to be answered. For thepurpose of this research Saunders, Lewis and Thornhill, (2007) research onion is adopted asshown in the figure. Beginning with the research philosophy, this chapter will provide theselection of research approach, research strategy, data collection method and the frameworkof data analysis. For this research these components are further discussed below. This is aqualitative research.
Figure 3.1: Research methodology model (Saunders et al., 2016)3.2 Philosophical ParadigmResearch philosophy is essential part of any research. The quality of research will be affectedif the philosophy of research is not understood properly (Bahari, 2010). The philosophicalparadigm is the way to understand the reality of the world and studying it. It is also about theknowledge and how to attain that knowledge. Therefore, it ultimately informs about theresearch approach (Abdul and Alharthi, 2016). Ontology on the other hand is the “nature ofour beliefs about reality” (Richards, 2003). According to ontology in qualitative researchthere are multiple realities on our society about one thing. It is subjected because it dependsupon the experience of about the reality.Research philosophy in social sciences is associated with the enhancing knowledge and itsnature in the social world. Therefore, epistemological philosophical assumption is acquiredfor this research. Epistemological assumption is associated with the nature of knowledge andthe method to obtain that knowledge. Since the aim of this research is to analyse the value ofArtificial intelligence (AI) in achieving improved claims management process and to addressthis aim, primary data is collected by conducting interviews to gain the understanding and
knowledge of the topic area. Since epistemological assumption is about the nature ofknowledge and how to acquire that knowledge. Therefore, epistemological assumptionhowever, there are two types of epistemologies interpretivism and positivism.Positivism assumes that reality is independent phenomenon and it is context free. It isindependent of humans and work on the laws of nature i-e cause-effect relationship and canbe predicted the same in future (Abdul and Alharthi, 2016). Conversely, interpretivism on theother hand rejects this notion and instead of believing in one universal reality that cannot beaffected by humans, it assumes that there are multiples realities in our societies and ismediated by our senses. Therefore, it is subjective. people have multiple realities dependingupon how they perceive their environment. For the purpose of this research it is important to know about the perspectives of insurers tounderstand the actual potential if AI in claims management. Therefore, this research adoptsinterpretivism philosophy.3.3 Research ApproachSaunders, Lewis and Thornhill (2007) explained two research approaches inductive approachand deductive approach. Inductive approach is from specific observation to generalizing thetheory. It is also called bottom up approach. For qualitative research inductive approach isacquired (Saunders, Lewis and Thornhill, 2007). Since, this dissertation is exploratoryresearch and qualitative in nature with the aim to analyse the value of AI in achievingimproved claims management process. Interviews are conducted to know the insights anddiscovering challenges to implement AI in claims and to explore the potential benefits andrisks of AI in creating value. Therefore, inductive approach is acquired for this dissertation.As it allows to look in the pattern and trend in an insurance industry and adoption of AI intheir systems and analysing those patterns, that can be generalised later. In contrast deductive approach is the top down approach which starts from theory tohypotheses to data to add to or contradict with the theory. Deductive approach is used inquantitative study as the intent is to test the theory to search for evidences in support oragainst that theory (Karen, 2010). This approach contradicts with the purpose of thisdissertation.3.4 Research StrategyThe choice of research strategy depends upon the research aim. Since the aim of thisdissertation is to analyse the value of Artificial Intelligence (AI) in achieving improvedclaims management process which is a specific area in insurance sector and needs research in
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