Woudstra joined Farmers in 2000 with the acquisition of Foremost Insurance Co., and was named president of Farmers Insurance in 2007 and CEO in 2009, according to Farmers, and Dailey joined Farmers in 2007 with its acquisition of Bristol West Holdings, where he served as CEO.
The insurance company's AI investments show early success, but underwriters own the final decision, CEO Christopher Swift said on an earnings call.
The carriers that are getting it right aren't using AI to replace adjusters.
As the insurance industry races to make the best use of AI, some areas of caution are emerging.
Organizations that prepare early will be better positioned to protect their people and minimize operational disruption when severe weather strikes.
Only 23% of insurers report AI being fully integrated into systems, according to the 2026 State of P&C Insurance Technology report from Federato.
As more policyholders shop around, insurers are applying AI in many ways to entice them to stay, executives from LexisNexis, Gallagher and Chubb say.
