Sue Srinivasan from Arch recently shared her thoughts on how artificial intelligence (AI) is set to change the insurance industry. Speaking on Insurance Business TV, she highlighted the ways AI will impact underwriting, distribution, and job roles in the sector.
AI is expected to reshape how insurers assess risks and distribute policies. By using advanced technology, companies can make more accurate decisions faster, which could improve customer experience and operational efficiency. This shift will also affect jobs, meaning some roles may change or disappear, while new opportunities could arise.
Srinivasan also pointed out some concerns the industry should keep in mind. As AI becomes more involved, issues like data privacy, fairness, and transparency grow in importance. The insurance world will need to balance innovation with careful oversight to make sure AI works well for everyone.
Several recent videos have explored related topics, such as how brokers can explain rising prices to clients, the future of insurance markets, and how carriers and brokers can collaborate better. Other discussions have focused on protection gaps, catastrophe losses, and the evolving role of cyber risk.
Overall, AI is set to bring big changes to insurance. While it offers many benefits, the industry must stay alert to challenges to make sure the technology supports both companies and customers.