Zurich UK to experiment with AI in new ‘customer copilot’ initiative

Zurich UK is currently developing a “customer copilot” as part of plans to expand its use of artificial intelligence (AI) when processing data.

That was according to Frank Streidl, head of UK commercial insurance, who said the initiative would look at producing solutions to ”challenges some customers face in consolidating vast amounts of data”.

This involves utilising AI to process various types of information, including risk engineering data, lost data, policy data and submission data.

Streidl said that while such an initiative would take “time and effort” to create given the complexity of dealing with diverse data sets, it was key for the insurer to use AI in a “controlled test environment” and “approach it cautiously.”

Benefits

Streidl revealed the initiative during a roundtable hosted by Zurich, which was entitled Meet Tomorrow Prepared.

It came after the firm said it March 2023 that it was experimenting with ChatGPT as it explored how it could use the technology for tasks such as extracting data for claims and modelling.

Streidl said the benefits of its new copilot would be the firm being able to provide more informed insights for both underwriters and risk engineers, with it leveraging AI to help build a “simplified customer view”.

Streidl noted that Zurich’s “ultimate aim is to present a holistic view for the customer”, recognising the “challenges some customers face in consolidating vast amounts of data”.

“If Zurich gets this right, it is a mutual gain for our customers and Zurich’s distribution channels,” he said.