Insurance and AI

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Insurance and AI

Have you heard about Insurance and AI? Getting an insurance quote is faster than ever before. Way back, you would have to call around and endlessly repeat your details to the person on the other end. The internet made the process of getting an insurance quote less time consuming with sites that compare prices for you. At the rate that technology is advancing, getting an insurance quote is only getting cheaper and more accessible. What we really have to thank for these developments is the implementation of Artifical Intelligence into the insurance quote generation process. AI leads to cheaper, faster and more personalized insurance quotes.

Artificial Intelligence is currently the buzz word on everybody’s lips as the technology advances quickly. All around the world, there are more and more insurance companies using AI in the form of chatbots to communicate with clients. Moreover, in the United States, four of the top ten insurance companies are using some kind of machine learning. However, AI isn’t being used just for quotes or chatbots.

In the insurance industry, the job of an insurance underwriter is to analyze and evaluate the potential risks involved in the process of insuring applicants and their assets. The risk assessment is carried out based on the information provided by the applicant on the application form. There is AI software that handles this process for some insurers. Thankfully, fears of threats to jobs have instead been replaced by personal habits and data that not only speed up the insurance process – but also save money. Some might say that the insurance industry could be the instigator of mainstream artificial intelligence.

AWS always remains at the forefront of technology in our industry. Call us today for a personalized quote that perfectly matches the needs of your home or business. Learn more about our advanced and useful AWS 24/7 app here.

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Melinda Martin

Account Executive

Melinda began her insurance career in 1985 with Alexander & Alexander where she received her Property & Casualty and Life & Health license. Since then she has worked at various agencies in the New Orleans area and in California as a senior account manager for Employee Benefit Plans.  While in California, she was also the Membership Director for the Burbank Chamber of Commerce. Melinda joined the AWS team in July of 2015.

Michael A. Seeling

Vice President

Graduated from the University of Louisiana at Lafayette with a B.A. in Insurance Risk Management and is a graduate of Archbishop Rummel High School in New Orleans. He joined AWS in October of 2008 and has been awarded the Patient Protection and Affordable Care Act Certification (PPACA). Additionally, he is working towards his Certified Insurance Counselor (CIC), Registered Health Underwriter (RHU), and Registered Employee Benefits Consultant (REBC) designations. He is also a member of the National Association of Health Underwriters (NAHU), National Association of Insurance Financial Advisors (NAIFA), and is an active member of the Fore!Kids foundation.