Popularization of AI Fosters Insurance Innovation

Bill Brower // May 31, 2023

(Image credit: Shutterstock.)

Even before the popularization of technology like ChatGPT among consumers, there has been a rise in the demand for digital services across industries, including insurance. In fact, according to a recent study examining auto insurance specifically, the majority of consumers trust a fully AI-automated claims process and half wanted completely digital services. Taking it all a step further, another study found 41 percent of insurance customers are likely to switch insurance providers due to dissatisfaction with their carrier’s digital capabilities.

It’s clear there is a rising demand for

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