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Digital Innovations in Insurance: Insights and Trends Beyond 2024 with Casey Averett

Digital Innovations in Insurance: Insights and Trends Beyond 2024 with Casey Averett

FromThe Digital Adoption Show | Upskilling the Future Digital Workforce


Digital Innovations in Insurance: Insights and Trends Beyond 2024 with Casey Averett

FromThe Digital Adoption Show | Upskilling the Future Digital Workforce

ratings:
Length:
34 minutes
Released:
Jan 25, 2024
Format:
Podcast episode

Description

In the latest episode of the Digital Adoption Show, hosted by Shreya Shrivastava, Senior Customer Success Manager at Whatfix, the focus shifts to digital innovations in the insurance sector. Season 4 kicks off with an exploration of insights, trends, and innovations beyond 2024. The special guest for this episode is Casey Averett, the Director of Claim Strategy at The General, a part of American Family Insurance.Shreya provides a comprehensive introduction to Casey, highlighting his 20-plus years of experience in various roles within American Family Insurance. Casey's journey, from a casualty claim desk adjuster to his impactful role as the Director of Claim Strategy, is underscored by his commitment to innovation and efficiency.As the conversation unfolds, Casey shares personal insights, revealing his passion for insurance, his role in the dynamic claims environment, and his leadership philosophy. He emphasizes the importance of curiosity in leadership and provides a glimpse into his life outside work, including his love for mountains and skiing.The conversation takes an engaging turn with the introduction of a new segment, "The Digital Pulse," where Shreya and Casey discuss the connection between passion and profession. Casey opens up about his diverse hobbies, such as playing the guitar and photography, showcasing the multifaceted aspects of his personality.The episode becomes more interactive with a rapid-fire section, "Triple Strike," where Casey responds to quirky questions, revealing his favorite quote, insights into his car collection, and his ideal dinner party guest, Steve Jobs.The highlight of the episode is Casey's expert overview of the top three digital innovations reshaping the insurance industry. He delves into the impact of telematics on claims, discussing potential applications like immediate claim filing and enhanced vehicle damage predictions.Casey also explores the transformative role of machine learning and automation in personalizing service options and amplifying the capabilities of insurance adjusters.Casey discusses the significance of empathy and human touch in the insurance industry, emphasizing that AI cannot replace the crucial role of adjusters. The focus shifts to the transformative impact of data in insurance practices, delving into underwriting, claims processing, and enhancing customer experiences through digital innovations.Casey highlights the role of technology in predicting total losses, identifying market trends, and reacting swiftly to market volatility. The conversation then transitions to challenges in adopting digital innovations, emphasizing the importance of change management and overcoming internal learning curves. Casey stresses the need to prioritize technologies that align with customer needs and avoid the "shiny new toy syndrome."The efficiency gains from digital innovations are explored, with a focus on planning, adoption, and continuous improvement. The conversation touches on the cultural value of embracing change and the importance of staying ahead in the rapidly evolving technological landscape.A case study reveals how AI-powered photo appraisal expedites claims processing, providing customers with quick and efficient solutions. Looking ahead, Casey refrains from making concrete predictions but emphasizes the need for insurers to adapt to changing customer expectations. The discussion concludes with insights into potential proactive measures to mitigate losses and the exploration of value-added partnerships in the evolving insurance landscape. Overall, the conversation underscores the dynamic nature of the insurance industry and the need for constant adaptation to emerging technologies.
Released:
Jan 25, 2024
Format:
Podcast episode

Titles in the series (77)

Organizations across the world are investing millions of dollars into human resource development, learning, and training. But often, the ROI of their investment is not justified. In the Digital Adoption Show Podcast, we host luminaries from large organizations and thought leaders in HR and L&D to talk about the strategies that work, inspiring stories of execution and growth, and how they exceptionally accelerate digital adoption!