AI helping small brokers ‘punch above their weight’

Artificial intelligence (AI) is helping small brokers overhaul their processes as they look to compete in the market with major players.

That was according to Chris Rolland, chief executive of AllClear, who said that “everything is just faster” when using such technology.

Speaking during the Biba Conference in Manchester, Rolland explained that smaller brokers ”don’t have the luxury of enough money to do the things that you would love to do”.

In turn, he felt that ”AI really is a force for good and for helping people”.

“We have only got a small team compared to some of the large insurers, but we are able to do so much,” he said.

”Therefore, you can punch above your weight.”

Humans

Rolland added that his firm had been ”very broad in trying to look for ways of taking human hours out of business in terms of using technology in the right way”.

”We have used it for everything, from the beginning of the customer journey, to understanding marketing, to pricing and from a security perspective – cloud security,” he added.

However, Rolland went onto say that “people are concerned about being replaced [by AI] and jobs not being there in the future”.

But he said these were the “wrong concerns” to have.

“[AI] isn’t about replacing individuals in organisations, it’s about generating more productivity and allowing people to focus on more productive things,” he said.