5 ways new tech and AI can bolster your insurance career and business
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The workforce doesn’t look much like it used to. In recent years, the embrace of remote work options and the development of new technologies to streamline processes has led to new opportunities and efficiencies.
This is especially true in the insurance industry, where technology has helped to make claims processing more efficient, as well as provide more personalized customer experiences. While some may argue that technology, specifically artificial intelligence, is eliminating jobs, technology can create new career opportunities for those in tech, while reducing burnout.
The insurance sector places a strong focus on early career programs for its young professionals, and the industry has demonstrated a willingness to embrace talent that’s taken a nontraditional career path. Life experience, licensing and a proactive attitude can help open doors to apprenticeships, intern programs and independent contractor roles for young employees starting out in the field.
An increased demand for tech talent in insurance is leading employers to actively recruit professionals and young industry entrants with existing technology skills.
“The learning curve is steep but rewarding, as it equips young professionals with a desirable skill set as well as evidence of their technical acumen that can be leveraged by any industry,” Douglas Dell, vice president and executive leader of learning and development for Sedgwick, wrote in a recent op-ed for Digital Insurance. “Digital natives quickly become proficient in these complex systems and this exposure hones their critical thinking skills. It also allows them to play a crucial role in suggesting improvements and advancements to these systems.”
Read more: Top 4 P&C insurance trends for young professionals in 2024
Burnout is inevitable in any field, but it is often especially seen in call center employees in the insurance sector. These employees are the main point of contact with customers as they are facing problems including accidents, home damage, illness and even the death of a loved one.
Implementing AI in this part of the insurance industry is a possible solution to burnout and call center employee attrition, according to Jennifer Lee, president and COO of Intradiem. By utilizing AI in their own work, call center employees can help eliminate some of the more tedious parts of their job, giving them the ability to focus on better customer service.
Leveraging AI in a call center as a whole can also help burnout become more visible to supervisors, as struggling employees might fall under the radar. Machine learning tools can alert management that an employee is struggling, while also suggesting an appropriate solution. In the call center example, it may be something as simple as recommending a wellness break or the employee taking the rest of the day off, or it may be more involved, such as suggesting training for a specific action causing the employee’s struggles.
Adding AI to the workforce can be beneficial for all. “In the short term, they can help agents have a better workday, feel more comfortable with their tasks and improve their employer perception,” according to Jennifer Lee, COO of Intradiem. “On the management side, they can not only offer deeper visibility into employee wellness but also automate the task of monitoring it – reducing the possibility of attrition well before it’s perceptible by humans. In the long term, the data gathered from burnout reduction efforts can strengthen operational processes throughout the employee lifecycle.
Read more: Attracting talent to a digital insurance market
Read more takes from industry insiders about the tech-driven changes occurring in the insurance workforce, and how organizations can take advantage to grow business and engage talent.
