Forbes November 8, 2024
Sean Merat is the CEO of Owl.co.
The insurance industry in recent years—particularly in sectors like disability, workers’ compensation, and bodily injury—has drifted away from personal connections, becoming more transactional and less human. Research shows that the level of empathy insurance-claims teams extend to customers has the biggest impact on customer satisfaction, but the claims-settlement process often lacks empathy as claimants find it arduous, impersonal and confusing, leading to a loss of trust.
McKinsey & Co. used the words “seismic impact” to refer to the potential of artificial intelligence (AI) in the insurance industry, but what will this impact be on claims adjusters and, importantly, claimants themselves, those who need the most help, whose humanity is most at stake?
Human...
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