Insurers can break the cycle by expanding their use of global talent, strengthening compliance training and treating administrative support as a strategic capability vs. a back-office expense.
Consumers still see value in AI, but are wary of how it's used, according to a Smart Communications report.
Centene Corp. will offer buyouts to most employees to cut expenses after membership in its health insurance plans dropped substantially over the last year, according to a company spokesperson.
Taiwan is easing regulations to give life insurers flexibility to invest in artificial intelligence projects, part of an ongoing campaign by authorities to redirect a larger slice of the industry's $1 trillion asset pool back home.
As insurance M&A grows, duplicating functions in combined companies, private-equity firms invest in AI insurtech that changes carriers' structures and product distribution, KPMG experts said.
AI is evolving from an attractive innovation into something much closer to an operational necessity.
