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Insurance is a people and data business.

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Virtual products, protection and savings.

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It's all delivered via
IT systems or humans –

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the opportunity to create a completely
different impact from the next tech wave.

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I think that's what gets everyone excited right now.

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Insurance is not an industry
that is known to move

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fast and adapt to new things quickly,
because it's regulated.

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It's also a complex business.

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Thousands of products, contracts
running to hundreds of pages,

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multiple computer systems, sometimes dating back
to the seventies.

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Our clients want solutions
centered around humans

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that will boost their productivity,
rather than replace them.

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I believe companies should focus on
a few golden applications,

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vertical transformations, things
that really scale and create value fast.

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In customer service, where 30 to 35 percent of people

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are searching and classifying documented knowledge,

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we believe GenAI could reduce costs
by 50 to 60 percent.

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In claims, where GenAI can not only
augment information,

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but also write a settlement offer
to customers in 2 minutes.

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In underwriting,

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by analyzing customer needs

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to create hyper-personalized coverage.

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The CEOs I talk to are frustrated
that they've billions invested in digital

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and don't get meaningful
productivity gains out of it.

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But that's expected to change now.

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Insurers will use these models
to be more efficient and to offer

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better services and products.