The insurance industry continues to deal with an aging workforce and the effects of the high turnover rate. To fill resource gaps, transportation companies are increasingly turning to collaborative robots, or cobots, to help train and retain younger workers.
In this insurance news analysis, we were pleased to welcome Matt Coughlin, founder and CEO of Xsell Technologiesto talk about the rise of AI and cobots in the insurance workforce and the agility and scale of knowledge management they can enable.
We see this play out in many industries. For example in healthcare, cobots are used for insurance claims, invoicing, e-prescriptions, etc., and we see them being used more by insurance companies as well. Their use cases extend far beyond automating rote tasks to truly augment human capabilities and improve both the customer and work experience.
This is shown by new research Millennial and Gen Z workers expect much more from their employers and many report that having an unsatisfying job is a major source of stress. These results are consistent with what we all too often see in insurance with younger workers overwhelmed by the complexity of the industry and a steep learning curve. It’s another area where we see the potential for AI solutions to empower younger workers by providing answers to the questions they don’t yet have the skills or experience to answer themselves.
As the future of insurance evolves, we see AI as the differentiator. As AI matures, insurers can leverage the technology to improve customer relationships through improved interactions, while realizing gains in both process efficiency and decision efficiency in core business functions. receivables and underwriting.
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Disclaimer: This content is provided for general information purposes and is not intended to be used as a substitute for consultation with our professional advisors.
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