Insurance Times Advent Calendar: Erez Barak

Every day for the festive period continuing until Christmas Eve, Insurance Times speaks to a selection of industry personalities about what they’d like to find under the tree for 2024.  

What was your insurance industry highlight of 2023?

This year I was struck by the significant boost in artificial intelligence (AI) moving from the labs to providing real life solutions insurers are adopting to assist customers.

Leaders of the industry are already using AI to solve key enterprise scenarios and more carriers are finding unique ways to boost business using AI.

What is your Christmas message for your insurance colleagues?

Insurers genuinely care about the world. They see, understand, empathise with and seek to protect people living through demanding situations. My message to insurance colleagues is to please keep caring about climate, supply chain disruptions, food insecurity and other humanitarian worries.

We are counting on your dedication to mapping these challenges to insurance solutions that will protect and support people.

What do you hope to find under the industry’s Christmas tree for 2024?

This year, I am hoping to see more interesting and unique data collected and applied to provide meaningful insights, so carriers are providing the best products possible to consumers.

I also want to see an increased use of large language models (LLMs) that ensure carriers meet customers where they are with modern interfaces and solutions.

And I want more and better uses of AI in insurance so that advanced technologies can be applied to uncover what’s needed to help consumers.