Reading industry analyses, it seems like the insurance industry is aware of the importance of AI and better use of data for their future offerings. But sometimes, I feel skepticism from insurance companies towards it; it feels like they do not think they need it or do not trust it.
In the field of personal claims management, everyone is striving for fair assessments. An injured person should get the compensation they are entitled to; the challenge is to make that assessment.
Talking with senior claims adjusters, they have seen it all. From years in the business and processing thousands of claims, they have developed a fantastic approach to serving customers and predicting a case’s outcome.
But is that stable and scalable, being dependent on some specialists to process all tough cases? Storing what potentially could be one of the companies’ most important asset, data, in some employees’ experience.
If an AI-bot could read millions of previous cases, find the patterns and outcomes for every situation. Whom would you trust the most, a senior colleague or the AI-bot?
Sure, entirely data-driven assessments are in the future, but I believe that data-informed assessments will play a larger role in personal claims management sooner than you think.
What do you think?