’The findings show that enough consumers are already open to interacting with AI to make it worthwhile to invest in,’ says senior insurance analyst
Nearly a third (29%) of UK respondents said they were “not very comfortable” with an artificial intelligence (AI) tool determining the outcome of a claim they had made, according to new research from data analytics and consulting company GlobalData.
Its 2024 Emerging Trends Insurance Consumer Survey (Q3), published in October 2024, surveyed 5,520 respondents across 11 countries, including the UK, US, Australia and Brazil.
The study revealed that only 7% of UK respondents were “very comfortable” with AI making a claims decision, while 22% were “quite comfortable”.
In contrast, 24% of UK respondents stated that they would “not [be] at all comfortable” with AI deciding the outcome of a claim and 18% were “neither comfortable nor uncomfortable” with this situation.
‘Worthwhile’ investment
Across the research’s entire sample, 39% of all respondents said they would be “quite or very comfortable” having an AI tool decide an insurance claim outcome.
Ben Carey-Evans, senior insurance analyst at GlobalData, said: ”The survey data highlights that a significant proportion of consumers in leading countries around the world are prepared to interact with AI tools.
”Well over a third (39%) were comfortable with using AI in the claims process, which emphasises that insurers which successfully introduce it will see strong usage from customers and stand out from their competition.
“The technology is at a nascent stage in the insurance industry and many chatbots do frustrate customers. However, the findings show that enough consumers are already open to interacting with AI to make it worthwhile to invest in.”
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