Business Research Reflective Journal: Impact of AI on Insurance Firm

This reflective journal evaluates the effectiveness and usefulness of learning experiences related to artificial intelligence (AI) within the insurance industry. It highlights the development of research skills through literature review and research methodology, emphasizing AI's transformative impact on businesses and daily life. The journal discusses AI's role in addressing challenges such as data privacy, improving customer service, and streamlining loan processes. It also covers the advantages and disadvantages of AI, including the need for significant investment and the potential for job displacement. The reflection incorporates insights gained from assignments focusing on literature review, research methodology, data analysis, and research outcome interpretation. The student intends to apply this learning to promote AI adoption within organizations and enhance their professional career, while also noting the importance of comprehensive literature reviews to address existing gaps in research. The journal concludes that the course has successfully developed both technical and research skills.

Running head: BUSINESS RESEARCH REFLECTIVE JOURNAL
Business Research Reflective Journal

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Table of Contents
Introduction................................................................................................................................3
Evaluate the effectiveness and your usefulness of the learning experience...............................3
Explain how this learning process will be useful to you............................................................3
Describe objectively what happened in the learning process.....................................................3
Evaluate what you learn.............................................................................................................4
Explain your learning process....................................................................................................4
Explain Plan how this learning you will apply..........................................................................5
Conclusion..................................................................................................................................5
References..................................................................................................................................6

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Introduction
This reflection report evaluates the effectiveness and usefulness of the learning experience. It
explains the usefulness of learning process. It also describes objectively the things that
happened in the learning process. It also evaluates what I learn from assignment 1 and 2.
Further, it describes the learning process and the ways I will apply my learning in the future.
Evaluate the effectiveness and your usefulness of the learning experience
I have gained my learning through literature review and research methodology part. This
learning was effective for me to develop my research skills. From the literature review, I have
observed that artificial intelligence is the advancement of technology on which the business
future is oriented. It is evaluated that artificial intelligence has changed the lifestyle of people
in all around the world(Britten, 2013). It has highly influenced the daily activities of life. This
learning experience is useful for me to use the artificial intelligence in an organization. I have
also pointed that artificial intelligence technology helps the companies by using an image,
voice recognition and use of natural language processing. It also aids them to assess the
consumer via voice and face recognition methods(Brooks, 2013). As a result, this learning
experience is effective and useful for me to apply artificial intelligence technology in an
effective manner. This experience is also valuable for me to enhance my career.
Explain how this learning process will be useful to you
This course would be useful for me to create the awareness about the artificial intelligence. In
this way, I have learned that artificial intelligence deals with distinct challenges of insurance
companies, which are associated with the privacy of data related to consumers. I will apply
this new knowledge and insights in the future to get growth in the organization. This learning
process will be also useful for me to improve my comprehension about the benefit of
artificial intelligence. In this way, it is assessed that artificial intelligence is used to decline
the amount of money spent by an individual in the process of availing these insurance(Chiu,

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and Ng, 2009). I have also observed that artificial intelligence aids to get loans for home,
which is built in the prone area of the disaster. I will apply this learning process to promote
the artificial intelligence among people. As a result, it has built my technical skills.
Describe objectively what happened in the learning process
In the learning process, I have gained my knowledge about the advantages and disadvantages
of artificial intelligence in the insurance firm. For this, I read about the research concern
through different sources like books, journal articles, and online and offline publication. I see
that artificial intelligence aids to solve the problem associated with people identification
while they are demanding their insurance. This learning experience is useful for me to imply
the artificial intelligence in the future. I have also gained my comprehension with regards to
the role of artificial intelligence in the future. In this way, it is evaluated that the AI supports
to keep the data in an effective and efficient manner(Hewitt, 2009). Since, the machines get
smarter outcome hence there are fewer possibilities to make a breach of security. This course
was also beneficial for me to enhance my career by gaining my learning. In such case, it is
identified that artificial intelligence also generates the new sort of tasks, which are associated
with technical fields and also decline the efforts of an individual in performing their jobs
(Petroni, 2012). As a result, I can apply my learning experience in an organization in terms of
using artificial intelligence technology. It is explained that there is no emotional
understanding with regards to current phenomenon about AI devices(Mugenda, 2009). As a
result, people cannot act according to the current situation. However, I have observed that
future machines could understand the social values as it is in the procedure.
Evaluate what you learn
The business research was used for the research learning procedure as it has built my skills
and knowledge regarding the artificial intelligence in the insurance firm. I have also observed
that artificial intelligence facilitates the flexibility to the whole procedure hence the benefits

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of insurance could be done as per the algorithm. But, at the same time, I have pointed that
there are certain disadvantages of using artificial intelligence. In this way, it is evaluated that
artificial technology required a huge amount of investment in their maintenance and
installation (Hennink, Hutterand Bailey, 2010). I have gained my understanding of the
research objective. In this way, I have learned that research objective is essential to complete
the research in an effective and efficient manner. I have also developed my comprehension
with regards to the research question. In such way, I have learned that research question is
responded through literature review.
Explain your learning process
From the assignment 1, I gained my new insights about literature review with regards to the
effect of AI on the insurance industry. It is useful for me to use artificial intelligence
technology in the future. I did different activities in assignment 2 such as research
methodology, data analysis, and plan for interpreting the research outcome. I have learned
that both qualitative and quantitative research design is used to collect the data. As a result, it
has developed my research skills in an effective and efficient manner. I have developed my
understanding of the sample place. In this way, I have learned that Chevalier insurance
company in Hong Kong would be selected as a sample to gather the opinion about the
research concern. As a result, it would be beneficial for me to enhance my career in long-
term. From the assignment 1, I feel that there is a gap in the literature review. In this way, it is
identified that there is a gap in technology such as relationship handling is long in this
decades and also changes in the lifestyle of human (Herschel and Jones, 2005). There is
inadequate information in the literature review. For instance, literature review identifies that
artificial technology decline the possibility of connection of face to face but it is not possible
in real life (Hwangand Greenford, 2005).Since, people can get more data about their friends
and more friends without seeing each other through facebook. I have also gained my

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knowledge that data will be collected through different techniques such as interview,
observational as it would be beneficial to pool relevant and reliable information regarding
research concern. It is also analyzed that the outcome of the research will be comprehended
by the different charts and graphs to understand the pool information in a meaningful manner
(Hillman, et. al., 2015).
Explain Plan how this learning you will apply
I will apply my learning in the future for using artificial intelligence technology within an
organization. This course is beneficial for me as it has not only gained my understanding of
the effect of AI in the insurance firms but also improves my different skills such as research
and technical skills. I will also apply my learning to improve the professional career.
Although, this course has developed my understanding of the effect of artificial intelligence
in the future yet, there is some gap in a research study. In this way, I would suggest that
literature review should contain depth information regarding artificial intelligence as it would
be beneficial to eliminate the gap from research.
Conclusion
It could be concluded that this research was effective for me to enhance my knowledge about
the effect of artificial intelligence in the insurance industry. This course has also developed
my different skills such as technical and research skills.

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References
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Brooks, R.A., (2013). Intelligence without representation.Artificial intelligence, 47(1-3),
pp.139-159.
Chiu, W.C., and Ng, C.W., (2009). Women
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study among women and men of organizations in Hong Kong. Journal of Occupational and
Organizational Psychology, 72(4), pp.485-502.
Hennink, M., Hutter, I., and Bailey, A., (2010).Qualitative research methods.Sage.
Herschel, R.T. and Jones, N.E., (2005). Knowledge management and business intelligence:
the importance of integration. Journal of knowledge management, 9(4), pp.45-55.
Hewitt, C., (2009). Open information systems semantics for distributed artificial
intelligence.Artificial intelligence, 47(1-3), pp.79-106.
Hillman, K.I.W.D., Walker, D.I., Larkum, A.W.D. and McComb, A.J., (2015). Productivity
and nutrient limitation.Elsevier Science Pub.
Hwang, T. and Greenford, B., (2005).A Cross
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Insurance Review, 8(1), pp.103-125.
Mugenda, O.M., (2009). Research methods: Quantitative and qualitative approaches.
African Centre for Technology Studies.
Petroni, K.R., (2012). Optimistic reporting in the property-casualty insurance
industry.Journal of Accounting and Economics, 15(4), pp.485-508.