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30 September 2024
Karen Monks

Come to Celent's Pre-ITC Sessions

I am very excited to attend my second ITC Vegas conference. My hope is to have a voice since last year I lost my voice on the first day. If you have not already requested meetings with me or my colleagues, reach out to us and we'll work on finding 15 minutes to chat!

What I really hope is that if you are attending, you will register for Celent's pre-ITC conference session on Tuesday afternoon. The Celent analyst team will be there in force discussing our research and talking with insurers and vendors in a series of panels. I'm moderating a panel on insurance distribution and what insurers are doing to digitize and provide agents with AI tools to do their jobs better. This should be a great conversation because I've recently read two sides of the story related to agents and AI:

A recent Nationwide survey reported that independent agents appear ready to deploy AI techniques like machine learning to meet cusotmer expectations. More than two thirds or respondents to that survey said they are already investing in AI with almost one third saying they adopted an AI platform in the last six months.1 However, a second survey by Liberty Mutual shows the opposite. In this survey, only 6% of the independent agents surveyed had implemented AI in there businesses, while just over one third said they are likely to use AI within the next five years! When asked if they trust AI, only 17% yes, 25% said it provides and opportunity, and about one quarter said AI is a threat.2

Celent believes that agents will accept AI as they see benefits in making the agent's work more efficient and profitable. We believe overall the insurance industry is more trusting of AI than they were a year ago, and that's mainly because of the democratization of GenAI and use cases that are showing the benefits. While AI will be a big part of my panel's conversation, we will aslo discuss how other investments in technology or digital transformation initiatives, improvement of operational efficiency, strategic partnerships or collaborations with other businesses can be opportunities for agencies.

So come join me and the Celent team on Tuesday, October 15th from 1pm to 4 pm! You can register here: Celent's InsureTech Connect 2024 Session - Las Vegas

You can find the full agenda and potential savings discounts on our site from this link.

Find me if you come to the sessions or at ITC!

1.https://www.dig-in.com/news/insurance-agents-embrace-ai-nationwide

2.Insurance agents interested skeptical of AI Liberty Mutual | Digital Insurance (dig-in.com)