Data Suggests P/C Insurance is at an AI Tipping Point

 Monday, May 10, 2021

 PropertyCasualty360

The P&C insurance economy has experienced a seismic shift over the past 12 months.

While photos and AI were used pre-pandemic, just over a year ago, the industry was heavily reliant on in-person interactions and touchpoints — staff reporting to call centers to deliver customer support, appraisers appearing in-person to inspect vehicles and generate estimates, and auto shops checking-in vehicles in need of repair.

Things changed in an instant.

As the pandemic took hold, insurers moved to accelerate the adoption of digital tools and AI to support the claims management process while keeping employees safe and socially distant.

During 2020, claims processed through CCC deep-learning AI increased more than 50% year over year.
Technology
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