AI & Machine Learning

Despite ethical challenges and high costs, AI is poised to drastically improve risk assessment, customer experience, and operational efficiency.

AI can improve loss ratios while benefiting growers, who can enjoy better risk management, more targeted interventions, and optimal use of resources.

Success with Gen AI comes from identifying the places in the customer journey where AI can supplement or enhance the experience.

The time for adoption is now, and insurers must take action in our increasingly digital and data-driven landscape.

By automating routine tasks, AI can free adjusters to focus on the human aspects of their work that require empathy, nuanced judgment and creative problem-solving.

This IoT has yet to realize its full potential but will allow carriers to focus on what insurance is intended to do – protect people and businesses. 

Insurance agencies use generative AI to communicate but must integrate it into more sophisticated processes: policy analysis, document comparison -- and more. 

Large language models will let insurers onboard, renew and service risks at close to zero marginal cost, underpinned with consistent control over risk selection.