Insurers adopt AI and automation amid skilled worker shortage
Insurance companies are dealing with a shortage of skilled workers, so they're leaning on AI and automation to pick up the slack, especially for things like claims processing and underwriting.
As Balasubramanian A, senior vice president at staffing firm TeamLease Services, puts it, finding people who can handle today's tech-heavy workflows is tough, so smart tools are stepping in to help.
Automation helps manage insurers' workloads
Instead of cutting jobs, automation is helping insurers manage bigger workloads without hiring tons of new people.
Tools like OCR are making claims and onboarding faster, while most customer interactions still need a human touch (only 2% to 3% of policies are sold fully online).
Industry leaders say this shift lets employees focus on what matters: helping clients and growing the business efficiently.