The Rise of the Robo-Insurer

Dan White

Senior Partner for Insurance

Ninety Consulting

We live in an era of anxiety about the rise of robots and other internet of things technologies. The reality will likely be somewhere between current popular visions of dystopian mass unemployment, and of more positive narratives of robots living in harmony and in service to humans as portrayed by the Jetsons.
A cyborg future in which robotic technologies work together with humans – when implemented properly and sensitively – will no doubt enable a better, more efficient service to be provided by businesses, freeing up workers to focus on interactions with customers that require empathy, creativity, and intuition, and which drive new kinds of sales, rather than on routine, dangerous, and more mundane tasks.
This report, in highlighting the potential for the Robo-Insurer, deftly walks the tightrope between alarmism and complacency. There is no doubt that the Fourth Industrial Age is upon us, and that we must adapt to survive, but how we do this will need to be carefully thought through – and implementation will be key. Much work will be required in the coming years to figure out the regulatory changes required, to integrate the relevant IT systems both front- and back-end, and to deal with the non-trivial privacy and data protection challenges that these technologies, from drones to AI-based assistants, will pose.
Perhaps the biggest task will be to enable and support customers in the transition, so they can see the increased benefits not only in terms of financial value, but in terms of convenience and their ability to interact with machines when necessary, and humans in a more holistic, analogue fashion where it augments their experience.
As a forward-looking social enterprise, Ninety seeks to address the social implications that will arise as more organisations adopt these technologies, which need not be separated from our core businesses activities. Robo-insurers who appropriate implement AI- and other tools in their business processes, will be able to harness their employees to help the communities around us to transition better, increasing trust in a businesses’ brand, and building greater loyalty among employees themselves.
And we will have a duty collectively to support the individuals and communities shut out by the robots’ algorithms, an approach which in many ways has been an integral part the ethos of the insurance industry for centuries, in partnership with government. As the Chair of Ninety’s Future Strategy Board, I’m excited about the possibilities and proud of our work with clients to help them thrive as more and more insurers embrace and adapt to the coming robotic age.
Welcome to the world of the Robo-Insurer!
Lord Wei of Shoreditch
To view the full report in PDF format, please click the download button above.

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