Consumers & AI — We Want Humans!

A not-surprising 80% of insurers have been using AI solutions to assist in the business of insurance. Most companies have found it helpful. The auto insurance website, TheZebra.com's Gemma Ros said her firm gave those responding to the survey and choice and found 74% of people want a human being helping them when there is a crisis and not a machine.

“Consumers hesitate to trust AI because they feel there is a lack of transparency which causes hesitation around sharing secure data,” she said. “Trust and transparency must be central to how the industry deploys these technologies. Consumers don’t just want faster answers, they want smarter ones. When applied thoughtfully however, AI becomes a powerful ally; not just for cost savings, but for building long-term trust in a traditionally complex space.”

When it comes to managing an insurance policy, 37% feel comfortable having AI help with that but the same percentage isn’t comfortable. The remainder is 27% and they’re unsure.

While consumers may not totally trust AI when it comes to a crisis, many will appreciate how it helps keep rates down. Here are some examples:

• The prevention of fraud: AI quickly spots unusual activity and patterns
• Risk assessment: AI can quickly assess data that determines how risky a person is when doing underwriting
• Claims: It processes and gathers information much faster than a human

Source link: PropertyCasualty360.com — https://bit.ly/47Qv5zR