Claims

Insurers that decide they can handle claims with young, inexpensive, inexperienced and untrained claims handlers should be accosted by angry stockholders.

With short staffing and less experienced adjusters, organizations must equip claims professionals with better, data-driven tools.

Digital solutions can make the high-stakes claims experience seamless, but industry data indicates a chasm between customer preferences and reality.

While fraud detection has historically been a manual process relying on human analysts, technology can now automate and enhance the work. 

In the 20 years since four hurricanes hit the state in just six weeks, insurers have learned many lessons--and have much better technology. 

A broad survey found that 77% of senior executives said they are in some stage of adopting AI, up 16 percentage points from a year ago.

Even as technology drives efficiency and innovation in claims, the key is to find the right balance between it and the human touch. 

Technologies such as AI are reducing costs for underwriters, which will translate to more competitive customer rates.