"Understanding consumer attitudes toward AI is critical for insurance organizations as they plan their AI strategy," said Chris Lafond, chief executive officer at Insurity, in a press release. "(The finding) signals a need for a balanced approach to be mindful of areas where human oversight remains preferred. Incorporating AI to complement human judgment rather than replace it will be key to fostering trust and acceptance among consumers." (Credit: Song_about_summer/Adobe Stock)
Consumers are getting more comfortable using AI as it's integrated into their everyday experiences, from a chatbot for customer service to ChatGPT for coding assistance or language translation. However, many consumers take issue with AI's use in decision-making roles, especially policyholders.
The 2024 AI in Insurance Report by Insurity found that 50% of respondents are against AI in claims management, and 45% don't want it used in underwriting either. But insurers have a different mindset on using AI in these ways and believe it streamlines claims and helps make underwriting decisions faster to offer better services to policyholders.
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