6thWave: AI News Hub

A majority of global insurers are actively endorsing the application of AI chatbots and generative AI in claims resolution processes, underwriting, and customer fulfillment, according to a survey conducted by Gallagher Bassett. The 2024 survey report “The Carrier Perspective: 2024 Claims Insights” highlights that customer service (67%) and claims processing (45%) are the primary areas utilizing these technologies. The integration of AI is becoming essential as insurers move away from relying solely on historical claims data, due to the impact of social, economic, and geopolitical factors. While many insurers are already implementing these technologies, caution is advised for complex liability claims that require experienced professionals. Primary concerns in the UK include seamless integration of AI (33%), compliance (28%), and data security (20%). The report emphasizes the need for best practices to ensure data privacy and ease of use during AI integration. Other findings show that 86% of global insurers use climate data in risk assessments, and hybrid work arrangements are impacting employee engagement and sustainability.

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