The time for insurers to start using AI to better serve their clients and retain them is now, according to Nick Milinkovich, expert associate partner at McKinsey & Company.
Milinkovich was speaking at Protection Review's ProtectX conference today (17 June) and explained how misconceptions around this technology and its uses were holding insurers back. With customers in all sectors now expecting a much higher standard of service, this has raised the requirement from insurers. "What has been consistently shown is customers are not only willing to share more data, but are willing to do so on a frequent and ongoing basis with their insurance carrier granted they get value beyond simply receiving a product," Milinkovich told the audience. "...
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