Artificial Intelligence | Insurance Advocate

2024/ April 2024

$50 billion opportunity emerges for insurers worldwide from generative AI’s potential to boost revenues and take out costs

Insurance Advocate Artificial Intelligence April 15, 2024

AI technology offers insurance businesses large-scale financial potential from productivity gains, optimizing sales channels and digital advice, and delivering enhanced, personalized customer experience υInsurance businesses worldwide have a $50 billion dollar financial opportunity from generative AI to harness the technology in ways that could boost their revenues by as much as 20% and cut their costs by […]

2020/ December 13

Vast majority of Insurance Customers Prefer Conversational AI and Messaging Experiences

Insurance Advocate Artificial Intelligence December 13, 2020

LivePerson, Inc. (Nasdaq: LPSN), a global leader in conversational AI, has announced the findings of its 2020 Survey of Consumer Preferences Around Insurance examining consumer attitudes and behavior around interactions with insurers, messaging, and conversational AI and commerce. The 2020 survey of more than 2,500 U.S., U.K., and Australian respondents reveals that the vast majority […]

October 20

Artificial Intelligence Review of Insurance Contracts – Are we there yet?

Guest Author Artificial Intelligence October 20, 2020

by Joe Chvasta, JD, MBA, CPCU The use of Artificial Intelligence to review insurance contracts is growing as AI tools can rapidly compare a high volume of contract clauses and make human reviewers faster and more effective. First implemented in 2011, the technology automating the review of contracts has progressed dramatically, leading to the question […]