Special Report: How AI is Transforming Claims
Understanding the application and integration of AI and generative AI into claims functions
Ahead of Reuters Events: Connected Claims USA 2024 (Nov 12-13, Austin), we have conducted a comprehensive survey of our community of insurance claims professionals from across North America.
The survey explores the innovative direction of claims handling, uncovering the opportunities, challenges, and priorities shaping the industry – with a focus on AI and Gen AI - to help inform your strategic decision-making.
The Claims Leaders Providing Their Insights:
Key Stats to Inform the Claims Future:
1. Just 4% of carriers have already implemented Gen AI with the majority still at planning stage
2. Deploying AI is the most popular strategy for boosting claims efficiency
3. Both Gen AI and ‘traditional’ AI lead future tech investment rankings
4. Investment sentiment for Cloud Storage and Claims Management Systems falls sharply.
Here are some snippets of the key quotes included in the infographic, adding context to the datasets of survey results:
“While increasing technology and digital investment is important to deliver a strong customer experience, it’s interesting that “greater personalization” is scoring on the lower end. It’s critically important to strike a balance.” - Shannon Cragg, VP Personal Lines Claims, Nationwide.
"The impact of using AI right from the start of the claims process is evident, with nearly half of industry leaders recognizing its ability to accelerate data entry and case assignments.” - Quin Netzel, SVP Claims, Westfield Specialty.
I hope you find the insights valuable!
Kind regards,
Lucy
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