AI ‘demystified’ at Applied Net 2024 in Nashville
Applied Systems CEO: Next year’s event will explore specific AI use cases to grow books of business.
The rapid expansion of AI applications and automated services are positioning insurance professionals for change.
“Insurance is on the cusp of its next generation, from technology and talent to emerging new risks,” Applied Systems CEO Taylor Rhodes told PropertyCasualty360.com at the Applied Net 2024 conference in Nashville.
“We’ve talked a lot about what AI is this year, demystifying the trendy topic and bringing a real understanding of what the technology can do for the industry,” he said. “Next year, we are looking forward to exploring specific AI use cases that will alleviate pain points in day-to-day operations and relieve friction in the commercial lines process to help agencies manage growth as they look to grow their book of business”
Applied Net 2024 was held at the Gaylord Opryland Resort & Convention Center in Nashville from Monday Sep. 9 through Thursday Sep. 12, and featured keynote presentations, educational sessions, exhibitors, networking and product launches.
More than 4,000 attendees participated in hundreds of sessions and industry roundtables. Keynote speakers at the event included the Chief Executive Officer of Applied Client Network, Brian Langerman, Chief Product Officer of Applied Systems, Anupam Gupta, and retired U.S. Navy Four-Star Admiral and the former Chancellor of the University of Texas System, William McRaven.
Applied Systems also announced Acrisure, Cincinnati Insurance, Emery & Webb Insurance, Groupe Lepelco and Premier Group Insurance as winners of the 2024 Pinnacle Award. The recipients were selected based on innovation in product deployment, partnerships and the ability to deliver tangible business results to their organizations and the insurance industry.
Meanwhile, data compiled by JLL, shows more than 25% of insurance jobs will likely see significant changes due to of AI implementation over the next few years, with the industry now seeing a stronger need for professionals adept in cloud computing, machine learning and generative AI as the tech talent war escalates across all industries.
Key job trends related to AI from the JLL study include:
- 1% fewer office clerks in 2023 when compared to 2019;
- 6% fewer insurance claims and policy processing clerks in 2023 when compared to 2019;
- 8% fewer customer service reps in 2023 when compared to 2019;
- 9% increase in claims adjusters, examiners and investigators in 2023 when compared to 2019.
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