5 questions about the revolution of AI in the insurance industry

The Association recently organised the InsurTalent Network - Join the AI Revolution: A Young Professional's guide. This meeting, which was held at NN, focused on the opportunities of artificial intelligence for the insurance sector. One of the participants was Rob den Boon, Digital Innovation Lead at De Goudse. On the basis of five questions, he talks about his experience.

1. The meeting focused on how insurers can use AI technology to optimise their processes and serve customers in a cost-efficient way. What's the most important lesson you've learned?

"One of the most important insights I have gained is how NN deals with AI and which technologies this insurer uses to optimise processes. For example, NN uses artificial intelligence in customer contact processes, for example, ChatGPT is used to summarise telephone conversations. I also noticed that we are already working on these technologies at De Goudse and therefore have a lot in common with NN.
Furthermore, many presentations were about AI in general, what it does and how it works. For example, Don Ginsel, CEO of Holland Fintech and chairman of the Financial Services NLAIC working group, talked about how startups are currently focusing on artificial intelligence. Incidentally, I certainly see many opportunities for the insurance world, especially to be able to speed up the entire insurance process, for example in the field of underwriting, management and claims. It is essential, however, that AI is used in an ethical way. So I thought it was good that Jos Schaffers, policy adviser Privacy & Big Data at the Dutch Association of Insurers, paid attention to the ethical aspect during the meeting."

Rob den Boon

2. Not only the benefits of AI were discussed, but also the ethics and risks associated with these developments. For example, the challenges of biases and discrimination in the use of AI and experiences and lessons learned from practice were shared. What do you remember most about this?

"Jos Schaffers in particular has mentioned that aspect. This is important, because in addition to the opportunities of AI, we also need to consider its risks. Bias (unintentional and disproportionate biases that can arise in AI systems, ed.) and discrimination mainly play a role in acceptance and claims assessments. Look, for example, at the childcare benefits scandal, so you always have to be alert to this. The use of AI in the assessment of applications and submitted claims is therefore more exciting than using artificial intelligence to speed up administration. You will have to test extensively in advance how an AI model will deal with different types of applications and claims. So you can use it, but you have to be sharp about biases. As far as I'm concerned, the added value of AI is making processes more efficient, so that the customer can be helped faster.
I think it's best to use pre-trained models and then retrain them for your own purposes. It is then important to re-feed this model with Dutch and your own trusted data. You have to have a system that is representative of our society. You have to give everyone a chance to become a customer of an insurer."

"The use of AI in the assessment of applications and submitted claims is more exciting than using artificial intelligence to speed up administration"

3. What are De Goudse's experiences with AI that you can share?

"From an innovation perspective, we are working on various projects related to AI. We look at how it can work for our processes, but also for advisers and customers. For example, we have developed a prototype in which an adviser and internal colleagues can ask questions about policy conditions, collective labour agreements and sources related to laws and regulations. We are now looking at what value that has and whether the answers are correct. We haven't implemented much AI so far, but we're working on applying visual intelligence to extract context from images and videos. To this end, we work together with Spotr, with whom NN also collaborates in this area. We mainly use visual intelligence to calculate the reconstruction values of commercial properties. It also helps us to identify possible risks, such as objects that are too close to the building in relation to fire risks."

Rob den Boon
Rob den Boon is Digital Innovation Lead at De Goudse Verzekeringen. The focus in his day-to-day work is on the exploration and adoption of new technologies and digital trends with the aim of realising efficiency and customer value. This is done in close collaboration with various departments and external partners. He also incorporates this knowledge and interest into the Innovation Platform of the Dutch Association of Insurers. Finally, Rob is following a part-time Executive Programme in Management Studies, with a focus on Digital Business, at the University of Amsterdam.

4. The InsurTalent Network is a partnership of youth associations in the insurance sector up to the age of 35. What do you think of this network? Have you already attended more meetings?

"It was the first meeting for me. I think the great thing about it is that you get a look at another insurer. The willingness to share experiences is beautiful. I also do this at the Innovation Platform of the Association, where the cooperation with other insurers is very nice and we should certainly not be afraid to do this together. It's great to meet a lot of young professionals and exchange a lot of knowledge at that level as well. So keep doing it, this network."

"As an insurer, you have to communicate well to your staff how AI makes work more fun and how you can realise more customer value"

5. Finally. How do you see the future of AI for the insurance industry?

"We can't ignore artificial intelligence and we have to embrace it as a sector. We need to experiment together and find out where the added value lies. We also have to decide where we want to use it and where we don't. It is important to keep in mind that the customer should benefit from it. In this way, you can also speed up internal processes so that the customer is better served. However, it is essential that internal employees are also properly included. They, too, need to come to understand that artificial intelligence has positive sides. For example, a claims handler prefers to handle complex cases and not spend half of the time on administration. As an insurer, you must therefore communicate well to your staff how AI makes work more fun and how you can achieve more customer value. It is important not to want to make everything up yourself, but also to look at possible collaborations with InsurTech companies. I certainly see these parties as added value to speed up the internal process. Finally, it is important to think carefully about the AI vision as an insurer. Issues that play a role in this are biases, compliance aspects, governance and architecture. And also make sure that this vision is accessible and transparent to everyone."

About the InsurTalent Network
The InsurTalent Network is a partnership of youth associations in the insurance sector up to the age of 35. The network brings young professionals together, offers support in their development and creates space for the exchange of ideas. The InsurTalent Network regularly organises events to realise these ambitions and strengthen the sense of belonging. Affiliated members are Nationale-Nederlanden, a.s.r, Achmea, Onderlinge 's Gravenhage, Univé centraal en dichtbij, Allianz, TVM, Aegon and the Dutch Association of Insurers.