This is arguably the most tangible way AI helps brokers. By taking over the tedious, repetitive, and time-consuming administrative work, AI allows human professionals to focus on the high-value activities that AI cannot replicate: building trust, providing expert advice, and negotiating on behalf of their clients.
Some Examples: #
- Automated Policy and Claims Processing: AI can handle the initial stages of claims processing. When a claim is submitted, an AI can automatically verify the policy number, check the client’s information against the database, and route the claim to the appropriate department or individual. For simple claims, the AI can even approve and process them automatically, speeding up the entire process for the client.
- Customer Service & FAQs: AI-powered chatbots on the broker’s website or social media channels can handle common customer service inquiries. They can answer questions like, “What is my policy number?” or “How do I update my beneficiaries?” This provides leads with 24/7 service without requiring an agent to be available, and it frees agents to handle more complex or sensitive lead issues.
- Automated Underwriting Support: While a human underwriter makes the final decision, AI can significantly speed up the initial analysis. It can quickly review a lead’s health data, medical records, and lifestyle information to provide a preliminary risk assessment. This front-end support helps the broker get a more accurate quote to the lead much faster, improving the lead experience and closing deals more quickly.