Rethinking AI in Insurance: It’s Time We Asked the Right Question

Article

The insurance industry is racing to adopt AI, but enthusiasm often outpaces purpose. Without clear objectives, poor data quality and siloed systems hinder success. True value lies in using AI to enhance integration, fix data, and drive strategic outcomes. Accountability must follow, ensuring AI decisions are ethical, explainable, and customer centric. The question remains: are insurers truly ready?

Apr 24, 2025

Thea Holland, Conference Producer, Center for Financial Professionals

Tags: AI and Technology (including Fintech) Insurance

Rethinking AI in Insurance: It’s Time We Asked the Right Question

The views and opinions expressed in this content are those of the thought leader as an individual and are not attributed to CeFPro or any other organization

AI adoption in insurance is widespread but often lacks clear purpose
Without defined goals, implementation risks becoming superficial
Poor data quality and siloed departments undermine AI effectiveness
Real impact comes from using AI to fix data and integrate workflows across underwriting, claims, and operations
Responsibility for AI decisions remains unclear, raising ethical concerns
A new accountability role may be needed
Trust, strategy alignment, and mindset shifts are crucial to realizing AI’s potential in making insurance more resilient and customer-focused

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