Jobs are going to be lost. Change is coming at breakneck speed.
There are very wise insurance boffins with years of experience who scoff at the idea that machines can replace hard-won skills. They’re wrong. With enough data to chew on, machine learning will enable bots to be faster, more accurate and certainly more reliable than their human counterparts. Will clients enjoy the experience? Some won’t.
Most of us love the live interaction with another flesh-and-blood human, even if they are explaining why your claim is being repudiated.
There is a new breed of customer though. Some might call them entitled; customers who expect unsurpassed levels of service, even as they spend pennies on the cheapest entry-level product. These are customers who don’t mind interacting with chatbots.
But what if it were possible to utilise that same machine learning technology to facilitate insurance business? We take a fascinating look at how new technology is enabling high touch relationships between insurers, brokers and their clients in our upcoming July and August issues.
Among our gems this month, we discover what makes a smart home so smart and wonder why we didn’t adopt this incredible technology years ago.
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