InsurTech NY: Scout Insurtech Reveals the AI Paradox

At InsurTech NY, Chris Luiz from Scout Insurtech believes he is working to solve the single most important problem facing the insurance industry: its historical struggle to engage effectively with technology.

Scout Insurtech argues that simply maintaining a “tech-forward posture” is not enough to succeed and instead, he dedicates a huge amount of time to creating situations where people build genuine, real-world relationships to figure out how Scout Insurtech can actually engage and partner with technology companies.

For Luiz, this relationship building is the biggest challenge the industry faces and praises events like InsurTech NY for matching him with people who are truly looking outside their own companies for opportunities, which served as a model for Scout Insurtech’s own conference ecosystem.

Luiz thinks that most people are underestimating how quickly and profoundly the advent of AI will change roles and the fundamental engagement model across the business. People accustomed to working solely behind a computer will soon find themselves with little to do if they cannot shift to having meaningful conversations and building relationships to drive business.

The more interesting, long-term effect of AI, according to Scout Insurtech, is a systemic shift in leadership development. As AI takes over many front-line positions, such as those in claims and call centers, the insurance industry will lose its traditional talent pipeline where future executives gain a fundamental understanding of the business by rising through those ranks. 

Luiz notes that this creates a paradoxical problem as Scout Insurtech is now building software and training programs designed to deliberately emulate the experience of being a front-line claims adjuster to properly prepare people for higher-level management and executive roles.