Last month, I had the privilege of attending the Chicago Insurance Tech and Innovation Conference, a fantastic gathering that brought together leading minds in the insurtech space. As the Director of Analytic Engineering at Fenris, where I oversee our AI and Machine Learning capabilities, I went in with a keen interest in how emerging trends and tools are shaping the insurtech landscape.

The discussions revolved heavily around the accelerating pace of digital transformation. It was clear that AI and ML are no longer just buzzwords; they are becoming indispensable tools for carriers, brokers, and agencies looking to thrive in a rapidly evolving market. The conference offered a comprehensive look at the diverse applications of AI, from enhancing customer experience and improving lead quality to decreasing the cost of acquisition and optimizing internal operations.

My experience at the conference was shaped right from the very first panel: “Disrupting Traditional Insurance with AI & Machine Learning.” This discussion set the tone for my key takeaways, framing the complex relationship between emerging technologies and established industry practices.

It was during this panel that two pivotal ideas were articulated by leading voices:

• Richard Wiedenbeck, Chief AI Officer at Ameritas, emphasized the value of agility and adaptivity in the age of AI, noting its importance for both individual employees and entire organizations to thrive. The consistent reiteration of the importance of change management—preparing people and processes for this technological shift—was a theme not only throughout this panel but echoed constantly throughout the day’s sessions.

• Anthony J. Rhem, CEO / Principle Consultant at A.J. Rhem & Associates, Inc. voiced that human intervention in the process will not disappear as AI capabilities expand. He stressed that human intervention will be more important than ever for validation as AI produces more and more data and insights that we can’t completely rely upon yet.

These two notions strongly shaped my takeaways for the rest of the conference, as well as my view of Fenris’s crucial role in the insurtech landscape. In the next two posts, I’ll delve deeper into how The Nimble Advantage and The Indispensable Human Touch are crucial to organization success in the insurance industry and how Fenris empowers organizations to be successful on both fronts.

Learn more about how Fenris is shaping the future of the Insurance Tech.