The rapid advancement of artificial intelligence is having a profound impact on personal lines insurance today. This new era of technology has the power to augment human decisions, improve efficiencies, and elevate customer experiences across the insurance value chain. Now is the time for personal lines to harness the wide range of opportunities and potential use cases of artificial intelligence.
ReSource Pro has been tracking carriers’ plans with transformational technologies for over a decade. This research report focuses on how personal lines insurers plan to leverage AI for internal operations and business strategies in 2024 and beyond. The report analyzes the technologies transforming the insurance landscape, including both established solutions like robotic process automation and new developing solutions like generative AI. It also explores the high-value applications of AI in risk management,underwriting, and claims, and its impact on functional business areas.
The report concludes by providing recommendations for how carriers can effectively integrate AI into their personal lines business strategies.