The AI in Business Podcast

How AI is Orchestrating the Insurance Supply Chain - with Marc Fredman of CCC Intelligent Solutions

Jul 8, 2025
Mark Fredman, Chief Strategy Officer at CCC Intelligent Solutions, dives into how AI is revolutionizing the insurance supply chain. He explains the impressive use of computer vision for predicting total losses and generative AI for document summarization. He advocates for insurers to move from siloed operations to a collaborative 'insurance economy.' Mark shares strategies for successful AI adoption, emphasizing quick wins and integrating AI alongside human expertise to enhance efficiency and customer experience in insurance workflows.
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INSIGHT

Complexity Drives AI Use

  • Complexity in P&C insurance is rapidly increasing due to vehicle technology, workforce, and regulations.
  • AI, including computer vision and generative AI, helps handle unstructured data and improve claim accuracy and speed.
INSIGHT

Insurance Economy Orchestration

  • The insurance industry suffers from siloed departments leading to inefficiency.
  • Viewing insurers as orchestrators of an interconnected "insurance economy" can optimize coordination among all stakeholders.
ANECDOTE

AI Accelerates Claim Processing

  • Previously, claim handlers had to read hundreds of pages manually, delaying decisions.
  • Now AI can summarize these documents in seconds, facilitating quicker, more accurate claim routing.
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