PriyaPatel
TLDR:
AI should be about customers and employees, not just technology. Insurers need to focus on how AI tools can improve customer and employee experience rather than just the technological capabilities of AI. Realistic expectations need to be set about the use of artificial intelligence technologies in the insurance sector.
Key Elements:
- Insurers should prioritize how AI tools can enhance customer and employee experience.
- AI will impact customer experience, jobs at insurers, and disrupt business models.
- Leaders need to explain the role of AI and its benefits to employees to ensure successful implementation.
- Creating solutions for end customers should be the focus for incumbents and innovators in the insurance industry.
The insurance sector needs to embrace AI to stay competitive, but it should not solely focus on the technological aspects of AI. Instead, insurers should consider how AI can enhance the customer experience, transform job roles within the industry, and disrupt traditional business models. By prioritizing the impact on customers and employees, insurers can ensure a smoother transition to a more technologically advanced future.
