Hersh, who joined the company in early-2008, is the primary author of Novarica's insurance policy administration systems research, and has led numerous vendor selection and evaluation projects for insurers, says Novarica. He speaks at industry conferences on the topics of cloud computing and mobile technology use by insurers, says the company.
The most common mistake is treating AI governance as a documentation exercise that happens after deployment, rather than a requirement built into the system from the start.
AI coding tools are putting insurtechs on the spot to change their value proposition; meanwhile, many consumers find that AI tools are making them more comfortable talking to agents.
Matthew Madsen of Accenture recommends that insurance company leaders get more "hands-on" with AI and get staffs more fluent with AI.
The enthusiasm around agentic AI in reserving isn't wrong but ahead of the infrastructure required.
The company's survey finds that only 23% of AI users accept financial guidance from AI without validating the advice first.
The European Union will set up a "climate insurance alliance" to better cover losses as global warming increases the frequency and intensity of droughts, floods and wildfires.
