Insurtech adoption is streamlining the claims process

AI is an integral part of the user journey, and customers want claims and repair providers that put automation first. (Photo: JustSuper/Adobe Stock)

The insurance industry has faced several challenges in recent months as companies have struggled to overcome rapid inflation, The Great Resignation, supply chain issues and the lasting impacts of the COVID-19 pandemic. Like most other industries, insurance call centers have been burdened with high turnover affecting hold times. However, the continuing widespread implementation of artificial intelligence (AI) across the industry has helped solve many of the business challenges faced by insurers.

AI has been incredibly successful among insurers, allowing companies to provide accelerated processing and streamline their workflows. Consumers also prefer to use AI. According to the Solera Innovation Index 2022, 70% of consumers said they would switch insurers for a faster digital claims experience. It’s clear that although AI is already in use, the insurance industry’s technological revolution is just beginning.