In this latest Thought Leadership piece, Dani Katz, Co-founder and Director of Optalitix, discusses the role of the underwriter in a landscape increasingly peppered with AI tools and solutions. He writes: "In today’s increasingly AI-driven world, underwriters now have a host of new tools at their disposal that can optimise these processes for speed and efficiency – sometimes achieving a three- to fourfold improvement. Whilst at the same time, according to Accenture, 40% of underwriters’ time is spent on non-core and admin tasks, creating between $17-32bn of annual underwriting efficiency losses." Read the full story here: 👉 https://lnkd.in/eVyK9zUH #insurtechinsights #insurance #underwriting #ai #lloydsoflondon
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At our recent #NED roundtable, which was a deep dive discussion on #AI, we asked our attendees how the firms that they work with are supporting the integration of AI into the business. I was pleased to see that a number of the firms are hiring external expertise where necessary and providing internal training to their employees. I’ve found that the best way to learn is by allowing time for AI exploration and internal sharing of use cases. How has your firm been supporting the integration of AI? Charl Cronje, Richard Holloway, Oliver Grossman, Adam Smylie, Nadeen G. #lcp #insurance #board
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“From emails to loss run reports, around 80% of all commercial underwriting data is unstructured, typically requiring some sort of natural language to understand, act on it, or do something with it. And as a result, underwriters spend around 40% of their time on tasks such as reading emails, documents, summarizing communications, manually processing data into systems, creating huge inefficiencies and capacity crunch points across the entire operation.” In the clip below, Roots Automation’s Chris Gayner sets the scene for our most recent roundtable discussion on the topic of “Unlocking Value with AI-Powered Underwriting.” And if you’re one of the 80-90% of insurers who haven’t actually moved the AI test out of the lab and into production, you’ll want to watch the full on-demand webinar: https://lnkd.in/eAsY8mRS #AI #InsuranceDocumentAI #Underwriting #Insurance
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What could your underwriters do if they had 40% more time? How much would your quote to bind ratio go up? We can show you case after case of instant ROI. Let's chat.
“From emails to loss run reports, around 80% of all commercial underwriting data is unstructured, typically requiring some sort of natural language to understand, act on it, or do something with it. And as a result, underwriters spend around 40% of their time on tasks such as reading emails, documents, summarizing communications, manually processing data into systems, creating huge inefficiencies and capacity crunch points across the entire operation.” In the clip below, Roots Automation’s Chris Gayner sets the scene for our most recent roundtable discussion on the topic of “Unlocking Value with AI-Powered Underwriting.” And if you’re one of the 80-90% of insurers who haven’t actually moved the AI test out of the lab and into production, you’ll want to watch the full on-demand webinar: https://lnkd.in/eAsY8mRS #AI #InsuranceDocumentAI #Underwriting #Insurance
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Wonder how a leading specialty property and casualty #insurer addressed compliance workflow challenges? Explore our latest #successstory and discover how a Gen-AI enabled conversational assistant expedited policy reviews and optimized #compliance requirements. Learn more: https://lnkd.in/gRtw5khE #IrisSoftware #GenAI #AI #ComplianceWorkflow
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Exciting News! The PATH Alliance Selects Klear.ai's Policy Underwriting Solution: Leading the Way in the Tech-Driven Client Services Evolution 🌐💼 Read the full press release to learn more about how this partnership is set to revolutionize the way we approach underwriting: https://lnkd.in/gyJbSHKn #InsuranceInnovation #TechSolutions #KlearaiSolutions #policy #underwriting #AI #insuretech #klearai
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Insurance is a people and data business! To transform the business requires attention on both.
Insurance is a complex, regulated business built around data, IT – and people. Generative AI promises to unlock the productivity transformation that has eluded the sector for years, argues BCG’s Dr. Christopher Freese. #generativeAI #artificialintelligence #insurance More insights on #GenAI from BCG - https://on.bcg.com/3YgPwip
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Understanding what AI is and how it can be implemented successfully in the insurance industry. Origami Risk's white paper covers regulatory and ethical challenges, as well as tips for taking the first step. Plus, read our Q&A with Gradient AI for insights into future roles, proposed regulations, and more. DOWNLOAD NOW: https://ow.ly/zcVu50PkMb7 #AIinInsurance #InsuranceWhitePaper #GradientAI #InsurTech
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Insurance is a complex, regulated business built around data, IT – and people. Generative AI promises to unlock the productivity transformation that has eluded the sector for years, argues BCG’s Dr. Christopher Freese. #generativeAI #artificialintelligence #insurance More insights on #GenAI from BCG - https://on.bcg.com/3YgPwip
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Insurance is a complex, regulated business built around data, IT – and people. Generative AI promises to unlock the productivity transformation that has eluded the sector for years, argues BCG’s Dr. Christopher Freese. #generativeAI #artificialintelligence #insurance More insights on #GenAI from BCG - https://on.bcg.com/3YgPwip
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Understanding what AI is and how it can be implemented successfully in the insurance industry. Origami Risk's white paper covers regulatory and ethical challenges, as well as tips for taking the first step. Plus, read our Q&A with Gradient AI for insights into future roles, proposed regulations, and more. DOWNLOAD NOW: https://ow.ly/fxIk50PkMb8 #AIinInsurance #InsuranceWhitePaper #GradientAI #InsurTech
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