Although the insurance industry has been traditionally slow to embracing new digital technologies, over the last five to seven years the tide has turned. Since 2015, over $2.7 billion has been invested in Insurtech and nearly 47% of insurance firms anticipate spending on data, machine learning (ML), and artificial intelligence (AI) technologies to meet customer demands and stay competitive.
In addition to such a large investment in Insurtech, the industry is experiencing a shift in customer demand as they migrate to more digital channels. Now leading insurers are pursuing digital initiatives to improve the customer experience, use data and analytics in key processes, introduce new digital products and services, and optimize operating costs through AI-driven automation.
In fact, according to recent research by Gartner, “by YE24, investment in AI-enablement of knowledge workers will rise by 40% as insurers shift from automation to human support initiatives.”
Download Arturo’s latest white paper, Don’t Get Left Behind, Why Property Insurance Underwriters Must Embrace AI Now, as we unpack how AI technologies will shape the future of the P&C insurance industry, particularly across underwriting. We describe the implications of machine learning and predictive data modeling on underwriting and how AI is transforming the future of insurance. We explain the crucial role of the underwriter, their pain points and data needs, and why underwriters should embrace AI now. You’ll learn how Arturo is changing the way insurance underwriters understand physical properties from our CEO, John-Isaac “jC” Clark. Plus, you’ll get additional technology and industry-specific insights from Gartner.
Don’t get left behind. Get your copy of the white paper here.