Insurance: An ‘AI Playground’

Insurance “is one of the best playgrounds for artificial intelligence,” says Applied Systems CEO Taylor Rhodes. “Its potential is massive, but the practical uses are still unclear. Insurance … Read More »

The post Insurance: An ‘AI Playground’ appeared first on Insurance Journal TV.

Insurance “is one of the best playgrounds for artificial intelligence,” says Applied Systems CEO Taylor Rhodes. “Its potential is massive, but the practical uses are still unclear. Insurance is a data-rich environment, but the data is stuck in systems that are hard to get to.” Ultimately, can insurance professionals focus on things that matter most, with AI playing a role? “How do we use it safely and in a high-value way?” For several years, Applied has been partnering with Google on data science and machine learning. On this recording, Taylor previews AppliedNet 2023, coming soon in Las Vegas and attracting some 4,000 industry pros. Taylor also addresses how the firm manages culture for 2,500 employees in multiple corporate and work-at-home settings. (Insider note: This year, Applied celebrates 40 years in business. Following much tinkering in the 1970s, independent agent Bob Eustace founded the firm in 1983 in his basement with “The Agency Manager,” or TAM, the first PC-based software for agents. There are still 20,000 users on TAM; however, that’s down from 35,000 last year as Applied seeks to migrate agents to newer software in Epic or EZLynx.)

This episode is supported by PersonalUmbrella.com, where you can quote stand-alone personal umbrella policies of up to $5 MM in 3 minutes online — just by answering 4 simple questions.

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