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AI: The Claims Industry’s Biggest Challenge and Opportunity for 2024
The claims industry is navigating a lot of change right now in the face of inflation, growing climate volatility and an ongoing talent shortage, but of all the disruptive factors, Lemonade’s Chief Claims Officer Sean Burgess says generative AI is the biggest.
Executive Summary
Artificial intelligence is presenting challenges as well as opportunities for insurers as they seek to embrace innovation, drive efficiency, and even use tech tools to assist with talent recruitment and retention. Claims executives share their thoughts on how insurers can use these tech tools to their advantage while still maintaining the human touch the industry has built its reputation on. Executive Summary Artificial intelligence is presenting challenges as well as opportunities for insurers as they seek to embrace innovation, drive efficiency, and even use tech tools to assist with talent recruitment and retention. Claims executives share their thoughts on how insurers can use these tech tools to their advantage while still maintaining the human touch the industry has built its reputation on.
“Let’s call out the biggest one for any industry, and that’s generative AI,” he said. “Simply stated, everything is changing…everything.”
