By Alessio Alionco – Most policyholders now “expect personalized advice, omnichannel experiences and seamless end-to-end journeys,” according to a 2023 McKinsey report. At the same time, many insurers are struggling to meet these demands and deliver the top-tier service required to retain customers, while still maintaining a competitive edge.

Artificial intelligence (AI) is offering a way to fundamentally reshape core insurance workflow processes—from underwriting and risk assessment to claims processing and customer service—and to help insurers deliver better experiences for their customers, employees and agents.

To understand how AI can alleviate these challenges, let’s understand what the ideal state—versus the current reality—of insurance workflow processes could look like.

We’ve all seen the neat, clean workflow charts showing a claims process moving smoothly from task to task. But they’re a far cry from the reality insurers must navigate daily.

Each claim, for instance, requires coordination among policyholders, brokers, third parties and internal analysts—all while adhering to stringent regulatory compliance requirements and security protocols.  Read On: