Page 26 - CU-20200201.pdf

FEATURE l TECH OUTLOOK 2020
26 February 2020 | Canadian Underwriter
TECHNOLOGY OUTLOOK
2020
What major technology trends do you foresee
in the property and casualty insurance industry in 2020? What new technologies will be on the brokers’ radar? We put these questions to a number of tech experts; their responses will inform your strategic thinking about tech.
By Greg Meckbach, Associate Editor
If you are not thinking about artificial intelligence (AI), changing the way you engage with customers, or getting better insights into the data that insurers have on your clients, you can bet that some of your
competitors will be.
AI use will continue to progress in 2020, industry
watchers predict. AI applications include natural language processing, automating labour-intensive tasks, and deciding which of your clients are too risky to underwrite, to name a few. You may have already run across this when placing commercial risks: if you are not thinking about AI, the decisions the computer makes could come as a surprise.
We put the following two questions to vendors, brokers and consultants: What major technology trends do you foresee in the property and casualty insurance industry in 2020? What new technolo- gies will insurance brokers adopt in 2020? Here is what they told us.
EMERGING TRENDS