What do insurers think about AI?

Recent Arizent research shows insurance organizations may be more familiar with artificial intelligence than other industries. But while there are use cases for the technology and organizations are deploying them, some insurers are concerned AI will cause more customer experience woes.

The research was conducted online by Arizent in January 2023 among 1,065 professionals across several verticals including banking, wealth management and insurance. There were 77 respondents from the insurance industry. 

The top AI tools used in insurance include ChatGPT, 74%; Bing AI, 48%; and Bard, 39%. Despite some concerns, 43% of insurance respondents said that AI is evolving at the right place. While 34% said it was evolving a little too fast. 

Not all industries have implemented chatbots for employees, or copilots, but insurers seem to be ahead using the technology most frequently to capture and transcribe meeting notes, track action items, manage day-to-day tasks and for hiring and interviewing. 

The survey asked respondents several questions related to AI. Digital Insurance gathered some of those comments.