The Application of Artificial Intelligence in Exploring New Economic Growth in the Insurance Industry in the Context of Increased Natural Disasters

In light of the mounting frequency of natural disasters and the concurrent economic trend of digital transformation, insurance companies are facing mounting catastrophe insurance compensation and losses. In order to meet the challenges of sustainable development, they must implement a comprehensive intelligent transformation. In this study, we construct a composite index system integrating the risk index of natural disaster occurrence, the economic capacity of consumers, and the resilience coefficient of insured buildings through the entropy weighting method and scoring model. Based on these indexes, our study establishes an underwriting decision-making model and designs an automated catastrophe underwriting decision-making system by using the technologies and tools suchas Random Forest, Flask framework, PostgreSQL, and React. The automated system enables the insurance company to obtain a decision coefficient, which assists in the decision-making process regarding whether to underwrite or not. The index encompasses a range of factors that must be considered in decision-making, thereby facilitating the insurance company's ability to make decisions in an efficient and accurate manner. This, in turn, reduces the costs, errors, and sub-risks associated with the decision-making process. Consequently, the insurance company's efficiency and accuracy in decision- making are significantly enhanced, the catastrophe insurance business process is optimised, and the company's profitability is enhanced in the face of natural disaster risks. The profitability of the enterprise in the face of natural disaster risk.