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AI Will Not Replace Agents, Underwriters, Adjusters, Auditors

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AI Will Not Replace Insurance Personnel But It Will Do One Thing For Sure

The term AI to me is a marketing term at best.  AI will not replace insurance personnel.  Why you say? In my former professional life, I was a programmer who knew 16 different computer languages simultaneously.

In one of my jobs, the internet was alive and well.  My programs (now called apps) were beamed out and back by satellite to remote locations.  One of the apps remotely controlled limits on manufacturing.   Was it AI – you bet it was AI.   The year was 1988. 

I wrote an article back in 2017 that used the word technology as a possible adjuster replacement. Seven years later the same is still true that few insurance-based jobs can be replaced by robotics.  Insurance, even commercial lines need the human touch somewhere in the process.

AI as Assistant

Pic Lost in Space Robot - AI Will Not Replace
Public Domain – Wikimedia Commons – Media Release

No, AI will not replace any type of insurance personnel but it will do one thing for sure.  I wrote an article last week on what it will do for the insurance industry – namely assist with being productive.  I received quite a bit of feedback on why limited online claims access for insureds and injured employees would not be that great of an idea.

AI used well formerly known as predictive analytics will likely be the best use for forecasting on the front end (agents, underwriters, etc.) and not the back end (claims adjusters, premium auditors, etc.).

A great article by Emily Stewart contained this quote –

It’s genuinely unclear what generative AI and what comes with it will bring, which is both unsettling and comforting. The hyperoptimistic and hyper-pessimistic takes are likely wrong, meaning the truth will ultimately wind up being somewhere in the middle. But anyone who tells you they know exactly what is going on in AI and where it’s headed is lying.

My take on AI –

AI will not replace insurance personnel – only enhance the work product by performing simple mundane repetitive tasks to relieve the inherent insurance time pressures.

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James J Moore - Workers Comp Expert

Raleigh, NC, United States

About The Author...

James founded a Workers’ Compensation consulting firm, J&L Risk Management Consultants, Inc. in 1996. J&L’s mission is to reduce our clients’ Workers Compensation premiums by using time-tested techniques. J&L’s claims, premium, reserve and Experience Mod reviews have saved employers over $9.8 million in earned premiums over the last three years. J&L has saved numerous companies from bankruptcy proceedings as a result of insurance overpayments.

James has over 27 years of experience in insurance claims, audit, and underwriting, specializing in Workers’ Compensation. He has supervised, and managed the administration of Workers’ Compensation claims, and underwriting in over 45 states. His professional experience includes being the Director of Risk Management for the North Carolina School Boards Association. He created a very successful Workers’ Compensation Injury Rehabilitation Unit for school personnel.

James’s educational background, which centered on computer technology, culminated in earning a Masters of Business Administration (MBA); an Associate in Claims designation (AIC); and an Associate in Risk Management designation (ARM). He is a Chartered Financial Consultant (ChFC) and a licensed financial advisor. The NC Department of Insurance has certified him as an insurance instructor. He also possesses a Bachelors’ Degree in Actuarial Science.

LexisNexis has twice recognized his blog as one of the Top 25 Blogs on Workers’ Compensation. J&L has been listed in AM Best’s Preferred Providers Directory for Insurance Experts – Workers Compensation for over eight years. He recently won the prestigious Baucom Shine Lifetime Achievement Award for his volunteer contributions to the area of risk management and safety. James was recently named as an instructor for the prestigious Insurance Academy.

James is on the Board of Directors and Treasurer of the North Carolina Mid-State Safety Council. He has published two manuals on Workers’ Compensation and three different claims processing manuals. He has also written and has been quoted in numerous articles on reducing Workers’ Compensation costs for public and private employers. James publishes a weekly newsletter with 7,000 readers.

He currently possess press credentials and am invited to various national Workers Compensation conferences as a reporter.

James’s articles or interviews on Workers’ Compensation have appeared in the following publications or websites:

  • Risk and Insurance Management Society (RIMS)
  • Entrepreneur Magazine
  • Bloomberg Business News
  • WorkCompCentral.com
  • Claims Magazine
  • Risk & Insurance Magazine
  • Insurance Journal
  • Workers Compensation.com
  • LinkedIn, Twitter, Facebook and other social media sites
  • Various trade publications

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