Execs look to artificial intelligence (AI) for insurance revolution

Despite sunny predictions regarding the capacity of artificial intelligence to revolution insurance services, insurers remain challenged by data quality control, privacy concerns and infrastructure compatibility. (Photo: iStock)

Insurance industry leaders are convinced artificial intelligence (AI) will “revolutionize the customer experience and empower agents, brokers and employees,” according to the Technology Vision for Insurance 2017 study from Accenture.

“Our research shows that insurers are investing in AI technologies to, among other things, improve customer interactions based on written and spoken interactions, gestures, interactive touch displays and hybrid mixed-reality platforms that merge the virtual and the real world, with each customer exchange becoming increasingly personalized,” said John Cusano, senior managing director and global head of the Accenture Insurance practice. Accenture is an international management consulting and business services firm based in Dublin, Ireland.