Fri, 29th Mar 2024

Insurance News Wrap

An episode of the Insurance News Wrap podcast, hosted by Paige Estritori, titled "Fri, 29th Mar 2024" was published on March 28, 2024 and runs 2 minutes.

March 28, 2024 ·2m · Insurance News Wrap

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Summary

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

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