Automation is making an impact, but it's also the ability to make decisions that will profoundly affect insurers' operations.
Insurers and the new wave of technology based market entrants are learning that effective AI is built from the ground up, by starting with limited, defined issues and building solutions around individual issues.
Advanced technology, often driven by AI, is resetting consumer expectations across all areas of life. Insurers must rise to those expectations.
Identifying and empowering younger, tech-savvy insurance recruits will help fill the talent gap and drive the next waves of insurance innovation.
Many insurers need to take inventory of the data they already have before they can decide what they need for effective automation.
Individual claims and inquiries may set off suspicions, but large-scale examinations of interactions can more quickly identify and isolate exceptional activity.
Arguments over whether artificial intelligence will eliminate jobs ignores AI's ability to expand the reach of individual workers, allowing them to take on new roles and tasks.
Enthusiasm to get started on automation should not run ahead of efforts to diagnose and measure the current status of processes.
Strategic uses of AI mean they must be effective while remaining compliant with a rapidly developing regulatory environment.
AI's upward trajectory will be fueled by talent and creativity.
