Fri, 29th Mar 2024

In this week's Insurance News Wrap, Paige Estritori discusses a rapid acceleration in the use of artificial intelligence (AI) across the insurance industry, with 90% of insurers investing heavily in AI technology to enhance customer service and streamline claim resolutions. However, there remains room for improvement in its use for disaster responses. The show also covers a drastic spike in weather-related claims as reported by NRMA Insurance, urging the public to further their climate preparedness efforts. A legal update highlights a Federal Court victory for Auto & General impacting coverage policy. Lastly, JAVLN's 'Brokering Change' survey reveals brokers are overburdened with administrative tasks, calling for simpler compliance, technological updates, and market adaptability to maintain service quality.n