Yohan Lobo, Senior Industry Solution Manager at M-Files

Insurers Must Balance Speed with Accuracy to Meet Rising Consumer Expectations

As insurers face growing pressure to meet rising customer expectations, the rush to adopt generative AI (GenAI) tools is putting accuracy at risk, according to M-Files.

Recent data from the Chartered Insurance Institute showed consumer satisfaction in the insurance sector fell to 84% in Q4 2024, down from 86% a year earlier. In response, many firms are deploying GenAI to improve efficiency across customer interactions, quoting processes, and product delivery. But M-Files senior industry solutions manager Yohan Lobo warned that moving too fast without the right data foundation can backfire.

Lobo said, “To streamline the way they interact with customers, generate quotes, and present their product portfolio, insurance firms are exploring how digital technologies (specifically, GenAI solutions) can be integrated across business functions.”

Read the full article on Insurers urged to prioritise data quality over speed in GenAI race | FinTech Global