Summary
In this episode of Insurance Unplugged, host Lisa Wardlaw engages with Koli Perry, VP of Insurance at Koford, to discuss the transformative role of AI in the insurance industry. They explore the importance of building trustworthy AI systems, the challenges of integrating AI into existing infrastructures, and the need for a paradigm shift in how the industry approaches technology. The conversation emphasizes the necessity of designing systems with accountability and transparency in mind, as well as the evolving landscape of distribution in insurance. Koli shares insights on operationalizing AI, the role of regulators, and the importance of being proactive in adopting new technologies.
Takeaways
AI in insurance requires a strong infrastructure of trust.
The industry must rethink how it approaches AI integration.
Trust and auditability should be built into AI systems from the start.
Regulators play a crucial role in the adoption of AI in insurance.
Event-native systems are essential for effective AI integration.
Operationalizing AI requires a shift in mindset and operating models.
Distribution in insurance is lagging behind technological advancements.
AI is a leveler that can disrupt traditional distribution models.
Complacency in adopting AI will hinder progress in the industry.
Design AI systems with the assumption they will be scrutinized.
Chapters
00:00 Introduction to AI in Insurance
05:52 Rethinking AI: From Trust to Prove It
11:57 Event-Native Systems and AI Integration
18:03 The Future of Distribution in Insurance
24:00 Conclusion and Final Thoughts