Chapter 10: Artificial Intelligence and Machine Learning in Insurance: A Bibliometric Analysis

Purpose: The aim of this chapter is to provide a quantitative literature review on machine learning (ML) and artificial intelligence (AI) in the Insurance Sector.

Need for the Study: The current study maps the literature regarding AI and ML in the insurance sector through bibliometric tools to identify the significant gaps in the available literature, considerable insights that emerged, and a scientific evaluation of AI and ML in the Insurance sector.

Methodology: The VOS viewer method was used to conduct the depth and quantitative analysis of the AI and ML in Insurance. The study of 450 articles has been retrieved through the Scopus database from 2012 to 2021. The implication of performance analysis methods has helped to explore influential journals, authors, countries, Keywords, and affiliations, elevating the literature in AI and the Insurance Sector.

Finding: This study conducts an exploratory analysis and identifies the prominent authors, sources, countries, affiliations, and articles using modern bibliometric analysis (BA) tools. The geographic scattering of the study indicates that the USA and the UK have highly influential publications and contribute to AI and Insurance. East and Southern Asia countries are far behind.

Practical Implication: Furthermore, this chapter can be used as a reference paper to explore the new field of study in the insurance sector using AI. The search criteria were set in the study to limit the sample published papers/articles included in Scopus data based on the AI and ML in Insurance.