#TECHVISION2020 Lemonade customers file claims with a chatbot that both logs the claim details and instantly By structuring their organizations with human and machine collaboration at the core, insurance compares the claim to others within the insurer’s database—a first wave of defense against pioneers are already positioning AI to be a driver of change. The value at stake is significant: fraud. If everything is okay, the claim can be paid out immediately to the customer. If a claim Juniper Research estimates the value of global insurance premiums underwritten by AI will is too complex or problematic, the AI shares the information with a human agent, who steps exceed $20 billion by 2024, up from an estimated $1.3 billion in 2019. The research forecasts 30 31 in to manage the case. This division of labor is the root of why Lemonade can that industry cost savings from AI will grow from $340 million in 2019 to $2.3 billion by 2024. offer competitive pricing within the insurance industry. 79% 35% 21% of insurance executives say they have of insurance executives believe of insurance organizations report inclusive design or human-centric collaboration between humans they are preparing their workforce design principles in place to support and machines will be critical to for collaborative, interactive, and human-machine collaboration. innovation in the future. explainable AI-based systems. Technology Vision for Insurance 2020 | We, the Post-Digital People 29