The role of artificial intelligence in the modern insurance landscape

"AI can understand jurisdictions but misses details not found in data"

clock • 5 min read

Sammie Eastwood investigates the current push towards integration of artificial intelligence (AI) tools within the insurance industry, the implications of this, and what it means for both employees and customers.

There has been a growing demand for AI tools within the insurance industry, driven by its ability to increase efficiency, support underwriting decisions, improve customer service, and automate processes for faster claims. Since the mainstream release of AI tools, such as ChatGPT or Stable Diffusion, the business world has been abuzz with speculation about this emerging technology trend. While some argue that AI is necessary for businesses to stay competitive, others see it as little more than a gimmick. So, is there really an urgent need for this new technology, or is the insurance se...

To continue reading this article...

Join COVER for free

  • Unlimited access to real-time news, key trend analysis and industry insights.
  • Stay on top of the latest developments around health and wellbeing, diversity and inclusion and the cost of living crisis.
  • Receive breaking news stories straight to your inbox in the daily newsletter.
  • Members only access to monthly programme 'The COVER Review'
  • Be the first to hear about our CPD accredited events and awards programmes.

Join now

 

Already a Cover member?

Login

More on Technology

Andrew Doran appointed as UnderwriteMe CEO

Andrew Doran appointed as UnderwriteMe CEO

Replaces James Tait

Cameron Roberts
clock 07 April 2025 • 1 min read
Rachel Edwards joins iPipeline

Rachel Edwards joins iPipeline

New managing director

Cameron Roberts
clock 03 April 2025 • 1 min read
Iress releases 2024 results

Iress releases 2024 results

UK business major factor

Cameron Roberts
clock 24 February 2025 • 2 min read