Hauser Insurance Take on AI Trends in Insurance Industry
Technology has become the backbone of many businesses worldwide, and the insurance sector isn’t an exception. Artificial Intelligence is among the significant technological advancements. Hauser Insurance recently discussed the AI trends that have positively impacted the industry. Mark Hauser is the founder and has played a substantial role in ensuring its growth and success.
Tech developers have come up with the best solutions to some common problems. They advocate AI application as it leads to smooth and efficient operations. Artificial Intelligence automates some insurance processes such as form filing and helps companies significantly reduce costs and time. According to Mark Hauser of Hauser Insurance, the following is one of the advantages of applying AI in the insurance industry.
Automation of Repetitive Tasks
According to the Future Today Institute report on 2022 tech trends, robotic process automation is AI automation and the most prevalent technique in enterprise companies. This technology enables software robots to comprehend what’s on the screen, complete the correct keystrokes, navigate systems, and detect and extract accurate data. It also does various definite actions faster and more consistently than humans.
Some tasks such as writing, reading, sorting, and filing forms are intensive. They require more time since they may require training or specific expertise. In insurance, robotic process automation inputs and processes claims. It also schedules various services for the appointment and answers basic questions via AI. Most people fear that AI might soon replace humans in customer-facing industries like insurance. However, automating repetitive tasks helps many workers develop their brainpower to ensure problem-solving solutions for their clients. Other advantages include:
- Advancement in claim filing and processing
- Predictive AI in system failures and workplace injuries
- Liability insurance for AI
Mark Hauser, the founder of Hauser Insurance, is always supportive and committed to growing the insurance industry. With this information, other insurance companies can confidently invest in AI. There are many other advantages of technological advancements in the business world.