X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.
Self drive vehicle with lidar technology showing the technology aspects. 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.

Want to continue reading?
Become a Free
PropertyCasualty360 Digital Reader.

INCLUDED IN A DIGITAL MEMBERSHIP:

  • All PropertyCasualty360.com news coverage, best practices, and in-depth analysis.
  • Educational webcasts, resources from industry leaders, and informative newsletters.
  • Other award-winning websites including BenefitsPRO.com and ThinkAdvisor.com.

Already have an account?

 

PropertyCasualty360

Join PropertyCasualty360

Don’t miss crucial news and insights you need to make informed decisions for your P&C insurance business. Join PropertyCasualty360.com now!

  • Unlimited access to PropertyCasualty360.com - your roadmap to thriving in a disrupted environment
  • Access to other award-winning ALM websites including BenefitsPRO.com, ThinkAdvisor.com and Law.com
  • Exclusive discounts on PropertyCasualty360, National Underwriter, Claims and ALM events

Already have an account? Sign In Now
Join PropertyCasualty360

Copyright © 2022 ALM Global, LLC. All Rights Reserved.