Insurers Turn to AI to Help Attract Young Clients,
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Posted On: 02/24/2025 5:55:37 PM
Insurers Turn to AI to Help Attract Young Clients, Transform Systems
An increasing number of insurance firms are relying on digitization to attract Generation Z and young millennial clients. According to Digital Insurance, the recent proliferation of artificial intelligence (AI) has provided insurers with highly effective AI-powered tools for attracting young clients and transforming insurance systems.
Digital Insurance polled around 120 leaders and staff at insurance agencies, carriers, and tech companies on the trends to watch out for in 2025 and published the results in a January 2025 report. Respondents were asked questions about potential changes in technology spending budgets, the macroeconomic factors that could affect the insurance industry’s growth in 2025, the benefits and disadvantages of increasing automation, and several other insurance-related issues.
Around 75% of respondents from all the types of firms involved in the poll acknowledged that younger customers expected or wanted a more digital insurance experience. 79% of health insurance company respondents and 66% of respondents from insurance carriers said transparency was another key issue for younger generations. As such, it makes sense that insurers would take advantage of digitization to transform their systems and attract an increasingly larger pool of customers from younger generations.
The poll respondents ranked emerging technologies like machine learning and artificial intelligence as the top trends expected to affect insurers through 2027. 55% said AI was the trend to watch out for in 2025 while 35% ranked evolving consumer demands and behavior as the trend to affect the insurance industry the most in 2025. However, MetLife’s former global chief data and analytics officer and Omnus Law strategic advisor Robin Gordon says many firms in the sector still haven’t figured out how to incorporate artificial intelligence into their operations.
Although firms should continue testing, experimenting, and learning about AI, Gordon cautions against adopting the technology too fast as the industry’s rapid development means AI technology can become outdated very quickly and lose most of its initial value to more modern offerings.
In the meantime, no-code tech providers are also working to transform internal insurance sector functions such as talent management and recruitment. For instance, insurance technology company INSTANDA is using its no-code software-as-a-service platform to collaborate with insurance carriers and manage multiple agents. This has enabled faster product spin-up timelines compared to conventional methods.
INSTANDA chief human resource officer Sara Shipley says that as insurance companies transition toward digital-first business models, the demand for coding expertise will fall as the demand for analytical thinking and cognitive skills coupled with cross-disciplinary expertise surges. She notes that insurtech is transforming the insurance sector’s workforce by diversifying talent acquisition strategies and allowing AI-driven insights, enabling insurers to attract skilled young workers with the passion and drive to reshape the industry’s future. An examination of the offerings of insurtech service providers like FingerMotion Inc. (NASDAQ: FNGR) can help in getting insights into the direction that AI is driving the insurance industry towards.
NOTE TO INVESTORS: The latest news and updates relating to FingerMotion Inc. (NASDAQ: FNGR) are available in the company’s newsroom at https://ibn.fm/FNGR
Please see full terms of use and disclaimers on the ChineseWire website applicable to all content provided by CW, wherever published or re-published: https://www.ChineseWire.com/Disclaimer
An increasing number of insurance firms are relying on digitization to attract Generation Z and young millennial clients. According to Digital Insurance, the recent proliferation of artificial intelligence (AI) has provided insurers with highly effective AI-powered tools for attracting young clients and transforming insurance systems.
Digital Insurance polled around 120 leaders and staff at insurance agencies, carriers, and tech companies on the trends to watch out for in 2025 and published the results in a January 2025 report. Respondents were asked questions about potential changes in technology spending budgets, the macroeconomic factors that could affect the insurance industry’s growth in 2025, the benefits and disadvantages of increasing automation, and several other insurance-related issues.
Around 75% of respondents from all the types of firms involved in the poll acknowledged that younger customers expected or wanted a more digital insurance experience. 79% of health insurance company respondents and 66% of respondents from insurance carriers said transparency was another key issue for younger generations. As such, it makes sense that insurers would take advantage of digitization to transform their systems and attract an increasingly larger pool of customers from younger generations.
The poll respondents ranked emerging technologies like machine learning and artificial intelligence as the top trends expected to affect insurers through 2027. 55% said AI was the trend to watch out for in 2025 while 35% ranked evolving consumer demands and behavior as the trend to affect the insurance industry the most in 2025. However, MetLife’s former global chief data and analytics officer and Omnus Law strategic advisor Robin Gordon says many firms in the sector still haven’t figured out how to incorporate artificial intelligence into their operations.
Although firms should continue testing, experimenting, and learning about AI, Gordon cautions against adopting the technology too fast as the industry’s rapid development means AI technology can become outdated very quickly and lose most of its initial value to more modern offerings.
In the meantime, no-code tech providers are also working to transform internal insurance sector functions such as talent management and recruitment. For instance, insurance technology company INSTANDA is using its no-code software-as-a-service platform to collaborate with insurance carriers and manage multiple agents. This has enabled faster product spin-up timelines compared to conventional methods.
INSTANDA chief human resource officer Sara Shipley says that as insurance companies transition toward digital-first business models, the demand for coding expertise will fall as the demand for analytical thinking and cognitive skills coupled with cross-disciplinary expertise surges. She notes that insurtech is transforming the insurance sector’s workforce by diversifying talent acquisition strategies and allowing AI-driven insights, enabling insurers to attract skilled young workers with the passion and drive to reshape the industry’s future. An examination of the offerings of insurtech service providers like FingerMotion Inc. (NASDAQ: FNGR) can help in getting insights into the direction that AI is driving the insurance industry towards.
NOTE TO INVESTORS: The latest news and updates relating to FingerMotion Inc. (NASDAQ: FNGR) are available in the company’s newsroom at https://ibn.fm/FNGR
Please see full terms of use and disclaimers on the ChineseWire website applicable to all content provided by CW, wherever published or re-published: https://www.ChineseWire.com/Disclaimer
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