The AI in Business Podcast cover image

The AI in Business Podcast

Claims and Underwriting Trends in Personalized Insurance with AI - with Kelly Cusick and Michael Cline of Deloitte

Feb 23, 2024
17:49
Snipd AI
Exploring trends in personalized insurance with AI, Kelly Cusick and Michael Cline from Deloitte discuss underwriting, personalization, and AI's impact on streamlining workflows. They delve into the use of AI for risk prevention, customer insights, and claims handling, emphasizing the need for expert feedback alongside machine learning for accurate evaluations.
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Podcast summary created with Snipd AI

Quick takeaways

  • Evolution towards personalized insurance products tailored to specific customer needs aids in precise risk management.
  • Generative AI in claims accelerates decision-making, enhancing data-driven analysis and ensuring human expertise validation for accurate outcomes.

Deep dives

Key Trends in Underwriting - Focus on Risk Prevention, Tailored Products, and Expanded Reach

The underwriting trends discussed focus on industries helping customers prevent risks, meet tailored product demands, and expand outreach to the uninsured. There is a shift towards empowering customers to manage their risks and make informed decisions independently. One key aspect highlighted is the evolution towards personalized products that cater to specific customer needs, such as pay-as-you-go options for small business owners, leading to more precise risk management.

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