Artificial Intelligence

Insurers can identify potential fraud much earlier in the claims process, potentially saving billions in fraudulent payouts.

NN Group now employs an AI assistance tool that call-center staff can use to answer client questions.

Insurers, vendors and customer groups shape state regulations by working with the states and the NAIC.

Consistent service slip-ups—like asking clients to repeat information or answer the same questions can quickly erode trust.

Advantages include the potential to become a big fish in a little pond.

Many agents venture into the independent world without understanding how to manage their receivables and payables in a commission-based environment.

Most ransomware claims start with threat actors compromising perimeter security appliances like firewalls and VPNs.

In 15 years, AI may handle the majority of straightforward underwriting, service and claims tasks, resulting in a more tech-augmented, streamlined workforce.