Tech-driven insurance careers and the link to AI
Insurance claims administration has emerged as an attractive alternative option to traditional tech organizations for early career professionals, providing a unique blend of stability, innovation, and a chance to make a real-world impact. One key factor contributing to this shift is the integration of role-based automation leveraging AI tools and services, transforming the way insurance claims are handled. In the final article of this series, we will delve into the world of early career programs in the insurance claims industry, exploring the growth opportunities offered by AI automation and its impact on supporting organizations, learning systems and contributions to advancements in the industry.
In the insurance sector, AI-powered tools automate routine and repetitive tasks in claims processing, enabling employees to focus on more complex and value-added activities. These tools analyze data to expedite the evaluation of claims contributing to a faster and more accurate resolution. Automation has transformed operations, reducing manual functions, allowing for more advanced activities such as analyzing patterns and making data-driven decisions.
Early career professionals, as a result, can find themselves with chances to be immersed in a learning environment that combines traditional insurance practices supported by AI. For example, when designing Sedgwick’s apprentice, trainee and intern programs, leaders intentionally structured the programs to infuse operational activities with continuous learning opportunities, all while encouraging young professionals to use and explore different technical solutions.
Shelby Thompson, program lead for the apprentice and trainee program in Sedgwick’s property division puts it this way: “We are given the freedom to approach a common challenge like producing a training session with the use of new tools. We have had a lot of recent success with using AI to rapidly build video solutions for our programs. It’s great to have the support to explore new technical approaches as we learn and often advance our development methods. AI also gives us the means to repurpose intellectual property in a myriad of formats.” Understanding how to leverage technology and AI tools is a significant part of Sedgwick’s training and early career programs.
Several categories of new technologies rise to the top as areas of interest for insurance leaders. AI, chatbots, cloud computing, low-code and no-code platforms, data and RPA are major areas of development within the insurance technology sector, according to a survey of insurance CIOs in 2022. Young professionals with a passion or talent for these specific practice areas within technology are especially well positioned for opportunities within the insurance industry. Looking ahead, we’re already seeing that some of these technologies that were planned, piloted or prospected a few years ago are now used in the field and within claims management operations.
For young professionals, integrating these types of technologies into early career programs opens opportunities to contribute insights and ideas to improve existing systems. As they become familiar with AI and related tools, young workers often identify areas for refinement, efficiency gains or even the potential for new applications. This collaborative approach fosters an environment of innovation and continuous improvement.
Rasheed Walker, a current apprentice based in Orlando expresses his perspective: “Sedgwick takes the time to hear everyone’s opinion, no matter the role, so we can operate with maximum efficiency. It’s fulfilling to know that my contributions are helping shape the future of our industry. The use of technology greatly impacts my role, it helps make my job doable – without any of these systems my job would either be impossible to do or very ineffective.”
Today, insurance is no longer an industry characterized by dull, actuarial functions but a technology-infused industry poised for growth. There is ample opportunity for young professionals to start their career in technology services – even driven individuals whose skillsets and expertise don’t include a traditional college degree. Early career professionals seeking a balance between stability, innovation and meaningful impact should explore the claims industry. The integration of custom tooling, subscription-based platforms and role-based automation with AI tools not only enhances operational efficiency and organizational growth but also provides a unique learning experience for early career professionals and a fulfilling path for those who seek to make a difference.
This article is the last in our series exploring how early career roles in insurance can be an unexpected and strategic alternative to traditional tech industry roles. Read others in this series here and here.
