How are different insurance sectors using AI to boost productivity?

How are different insurance sectors using AI to boost productivity? | Insurance Business America

Technology

How are different insurance sectors using AI to boost productivity?

Could it be the key to boosting your business?

In today’s digital world, insurance organizations are constantly seeking innovative ways to streamline processes, enhance productivity, and build stronger relationships with customers and partners through technology.

An upcoming webinar aims to showcase the unique journeys that different insurance sectors are taking to leverage artificial intelligence (AI) and technology in the workplace.

‘Unique journeys’ – how are insurance companies approaching AI?

The webinar on April 16 will start with a brief overview of Slack for insurance, followed by thought-provoking discussions from experts across the field.

The aim is to impart practical insights, actionable strategies, and best practices for leveraging Slack to drive productivity and innovation in the insurance industry.

With the recent launch of Slack’s artificial intelligence capabilities and Slack Sales Elevate, insurance firms now have powerful tools at their disposal to centralize, simplify, and automate work processes.

According to Keven Curtiss (pictured top, left), head of Slack’s insurance business and host of the upcoming webinar, one key advantage that Slack offers is eliminating administrative burdens and allowing employees to focus on critical duties.

While using AI applications offers a wealth of benefits, some insurance firms are approaching the technology with cautious optimism.

One of the webinar panellists, Andrew Walling (pictured top, right), AVP, strategic implementation & support at Sammons Financial Group, said his organization is still in the early stages of implementing generative AI.

“We’re still in the exploratory phase of looking at large language models (LLMs),” Walling said. “One of the biggest things in our industry is the concern about the internal biases. How do you interrogate LLMs against biases, especially as you’re thinking about risk ratings and customer behaviors?”

Embracing AI to boost productivity and relationships in insurance

Another panellist, Gordon Wintrob (pictured below), co-founder of Newfront Insurance, will share his brokerage’s experience using Slack to streamline operations and communication channels to build trust with clients.

“One cool thing we’re doing is using LLM (large language models) to help our clients,” Wintrob said.

“We’ve built an AI chatbot that’s trained off the Employee Benefits Guide, the HR handbook, all the documents that we prepare as a brokerage, and it’s able to answer employee questions in that channel.”

Danny Fang (pictured below), senior IT manager at Lemonade, will give the insurtech’s perspective at the webinar. Slack has been embedded into Lemonade’s culture, automating and accelerating business processes to power the insurtech’s rapid growth.

Overall, webinar attendees will gain invaluable knowledge on:

Driving operational efficiency: Learn how insurance firms are leveraging Slack to do more with less and drive operational efficiency. Discover real-world examples of how Slack has transformed workflows and improved productivity across different types of insurance organizations.
Harnessing the power of AI: Gain insights into where organizations stand in their AI journey and how it impacts their operations. Explore how Slack’s AI capabilities can be harnessed to automate tasks, improve decision-making, and drive innovation within insurance companies.
Enhancing customer engagement: Explore how Slack serves as a centralized platform for connecting agents, brokers, support systems, and applications, leading to enhanced customer engagement and satisfaction. Discover how insurers are leveraging Slack to align tools, data, and people in one digital workspace, ensuring a seamless customer experience from policy account opening to claim escalation.

Don’t miss this opportunity to gain a competitive edge in the insurance market. Register for the webinar and discover how Slack’s AI-powered solutions can transform your organization’s operations and customer interactions.

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