For insurers, collecting as much information as possible is the name of the game, as it informs any number of insurance processes and ensures accurate risk assessment. With AI and machine learning, insurers now have powerful analytic tools to turn even more sources of underwriting insights into actionable intelligence. This not only enriches the underwriting process it also introduces efficiencies across the business.
In this episode of the “Filling the Gap” podcast series, Othman Loudghiri, director of Small Commercial and Casualty Underwriting at Verisk, talks about what AI and machine learning can help small commercial underwriters achieve. You’ll learn:
- The types of data AI and ML can capture and analyze, and why this is important in small commercial underwriting;
- The specific operational and efficiency benefits insurers can expect with AI and ML;
- How these new technologies complement the human touch, empowering underwriters to focus on more client-facing, strategic endeavors; and
- Why there’s an urgent shift from AI “exploration” to “adoption” among insurers and MGAs.