08.04.25

Agents vs. Algorithms? Why AI Still Needs Human Advisors in Insurance

by: Rayne Morgan

Companies like Mylo and Embroker suggest AI is not just a trendy new fad but an innovative way to modernize and improve service. Tanner Hackett, founder and CEO of MGU Counterpart, suggests that appetite for AI in insurance varies heavily, and actual adoption rates may lag behind reported interest. “Appetite for AI tools within the industry varies,” Hackett notes. “Forward-thinking brokers are seeking AI tools to differentiate themselves and deliver faster quotes and better risk assessments. That said, pressure to use AI is mounting. What started as a competitive advantage is quickly becoming a necessity.” But Michael Silverman, president and CEO of Silver Lining Insurance, maintains that while AI has benefits, insurance is and always will be a people-centered industry first and foremost. “Purchasing insurance is personal, whether it’s for your business or your family or anything else. It is personal, it is emotional and I haven’t found an AI product or a robot or a system that really gets to that,” Silverman says.

Read the full article on Insurance News Net