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AI is projected to save the insurance industry $390 billion by 2030, with a significant majority of executives believing it will revolutionize their operations in the next few years. Lance Miller, CEO of Surex, emphasizes the importance of human partnership alongside technological advancements, addressing employee concerns about job security. He argues that AI enables employees to focus on more critical tasks while algorithms manage routine processes.
Surex's investment in AI over the past decade has streamlined operations and improved risk selection and marketing strategies. The integration of Surex's algorithms with Google's AI enhances targeted marketing efforts, allowing the company to sift through vast amounts of data effectively. Miller highlights the ongoing challenge of balancing automation with personalized customer service, asserting that while AI can improve efficiency, human interaction remains essential.
• AI in insurance expected to save $390 billion by 2030.
• Surex integrates AI with Google's algorithms for targeted marketing.
RPA is contrasted with AI, which adapts and improves over time, making it more suitable for complex data handling.
Surex employs machine learning algorithms to analyze past insurance applications and predict favorable risk profiles.
Surex uses data analysis to refine its marketing strategies and improve risk selection.
Surex's strategic investment in AI has allowed it to streamline processes and improve customer targeting.
Google's algorithms are integrated with Surex's systems to enhance marketing precision and data analysis.
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