Artificial Intelligence in P&C Personal Lines

Carrier Plans, Perceptions, and Potential for High-Value Use Cases


Author(s):
Mark A. Breading, Senior Partner
Tom Benton, Partner
Meredith Barnes-Cook, Partner
Publication Date:
December 8, 2023
Number of Pages:
17
Price:
$1,495.00 USD

The rapid advancement of artificial intelligence is having a profound impact on personal lines insurance today. This new era of technology has the power to augment human decisions, improve efficiencies, and elevate customer experiences across the insurance value chain. Now is the time for personal lines to harness the wide range of opportunities and potential use cases of artificial intelligence.

ReSource Pro has been tracking carriers’ plans with transformational technologies for over a decade. This research report focuses on how personal lines insurers plan to leverage AI for internal operations and business strategies in 2024 and beyond. The report analyzes the technologies transforming the insurance landscape, including both established solutions like robotic process automation and new developing solutions like generative AI. It also explores the high-value applications of AI in risk management, underwriting, and claims, and its impact on functional business areas. The report concludes by providing recommendations for how carriers can effectively integrate AI into their personal lines business strategies.

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Table of Contents

  • About This Research Report 3
  • AI Transformation in Personal Lines Insurance 4
  • The Technology and Business Implications of AI
  • Most Advanced AI Tech in Personal Lines
  • New Wave of AI Tech in Personal Lines 8
  • The Potential for AI in Personal Lines 10
  • High-Value Use Cases in Risk Management and Underwriting
  • High-Value Use Cases in Claims
  • AI Technology’s Impact by Business Area
  • Call To Action 16
  • About ReSource Pro Consulting 17
  • Use of Our Reports
  • About the Authors