The 2024 AI handbook for insurance leaders : how insurers can turn AI promises into tangible outcomes
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<subTitle>: how insurers can turn AI promises into tangible outcomes</subTitle>
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<abstract displayLabel="Summary">As AI changes the insurance landscape, top-performing organizations need to keep up with the latest risks, trends, and opportunities. Artificial intelligence has captured headlines. Transformation is on the horizon,
and few industries will remain untouched by this revolutionary technology. Insurance is no exception. AI offers multiple benefits to insurers, including faster customer service, increased efficiency, and reduced costs. Companies that adopt AI effectively will have an insurmountable advantage over peers who lag behind. And AI will touch nearly every aspect of insurance from broker and agent operations to underwriting to risk management to claims processing and beyond. Despite the blue skies of AI, clouds have formed. Given the heavily regulated nature of insurance, AI carries risksand insurers have felt the impact. From claim denials to bias to privacy issues, insurance companies must walk a fine line to implement AI without causing reputational or legal damage (while still contending with a vast and complex technology landscape).</abstract>
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