The technology carousel is moving at a great pace , offering a variety of intriguing seats to choose from . But , just like on a carousel , it ’ s much easier to explore different seats once you ’ re onboard than to wait on the sidelines for the perfect moment . By hopping aboard and embracing these new tools , we can all enjoy the ride — and the opportunities it brings for our industry . •
INDUSTRY TECH
LEADERSHIP DRIVES TECH ADOPTION
Jim also pointed out that tech , including AI , cannot take the place of human empathy , imagination , and analytical thinking . These tools simply improve the efficiency and resources available to our talent , creating a more enticing environment to attract and retain the best people . However , the culture starts at the top , and leadership must embrace and promote technology advancement to foster a more expeditious transition to the future of the industry .
HUMAN INTERACTION STILL MATTERS
Interestingly , Kyle Nakatsuji , CEO of Clearcover , highlighted the strength of the Independent Agent distribution channel . Clearcover has invested vast amounts of capital , time , and resources to develop automation from underwriting to coverage needs analysis , claims reporting , and processing . However , they have found that when consumers reach the buying point , the need for human interaction and support remains paramount . The more technology can support and facilitate the selling and buying process , the more opportunities there are for growth and success .
a panel of state commissioners , who shared positive experiences from recent years . One example involved a carrier implementing Generative AI as an ' observer ' to help safeguard against potential compliance issues . This is another example of creativity in using available tools to enhance performance and support the talented people who make up our industry .
The technology carousel is moving at a great pace , offering a variety of intriguing seats to choose from . But , just like on a carousel , it ’ s much easier to explore different seats once you ’ re onboard than to wait on the sidelines for the perfect moment . By hopping aboard and embracing these new tools , we can all enjoy the ride — and the opportunities it brings for our industry . •
Patrick McCoy is the Director of Business Development for Kansas Association of Insurance Agents and has a 15 + year background in the insurance industry on both the carrier and agency sides of the business .
SELF-REGULATION IN TECHNOLOGY
From the perspective of regulating rapid advancements , the common theme among developers is the importance of self-regulation . Many developers expressed that their core value is to build and maintain trust and transparency . This sentiment was echoed by
NOVEMBER / DECEMBER 2024
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