Insurance leaders optimistic about AI's impact on underwriting quality and fraud reduction but underwriter confidence lags [Yahoo! Finance]
CAPGEMINI SE UNSP/ADR (CGEMY)
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Source: Yahoo! Finance
Insurance leaders optimistic about AI's impact on underwriting quality and fraud reduction but underwriter confidence lags 62% of insurance executives recognize artificial intelligence/machine learning technology (AI/ML) as elevating underwriting quality and reducing fraud 43% of underwriters trust and regularly accept automated recommendations from predictive analytics tools but many still have concerns around complexity and data integrity Paris, April 17, 2024 – The Capgemini Research Institute's World Property and Casualty Insurance Report 2024 , published today, reveals the underwriting capabilities of insurers are being restricted by organizational constraints. According to the report, only 8% of property and casualty (P&C) insurers are regarded as underwriting “trailblazers” who are consistently outperforming mainstream carriers by leveraging AI-driven insights and automation to make informed decisions and accurate risk assessments with efficiency. These industry frontrun
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