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
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.
