Sudarshan Jagannathan: Where AI Adds Real Value in Insurance

Why It Matters

Targeted AI pilots let insurers quickly boost customer experience and cut costs, proving AI’s ROI without massive upfront investment.

Key Takeaways

• Focus on small AI projects that quickly add insurance value.
• Front‑end AI improves onboarding and accident claim intake experience.
• Back‑end AI helps manage IT spend and budget approvals.
• Companies must decide between building custom AI or buying existing solutions.
• Employee enablement and rapid learning are critical for AI adoption.

Summary

Sudarshan Jagannathan outlines a pragmatic approach to AI in insurance, emphasizing that real value often comes from modest, targeted projects rather than sweeping digital overhauls. He argues that insurers should identify narrow use cases—such as enhancing Guidewire‑based front‑end interactions, streamlining customer onboarding, or automating the first notice of loss during accident intake—to demonstrate quick, measurable benefits.

Key insights include leveraging AI to simplify front‑end experiences, reducing friction for policyholders during claim filing, and using AI‑driven analytics to better manage IT spend and budget approvals on the back end. Jagannathan also highlights a strategic dilemma: whether to build bespoke AI tools in‑house or to purchase proven solutions, noting that many firms lean toward buying to accelerate deployment.

He stresses the importance of rapid learning and employee enablement, stating, “There’s a trend around learning, enabling employees, and the temptation to build software rather than buy software.” This reflects a broader industry shift toward upskilling staff and fostering a culture that can iterate on small AI pilots.

The implications are clear: insurers that focus on bite‑size AI initiatives can achieve faster ROI, improve customer satisfaction, and maintain tighter control over technology budgets, positioning themselves competitively as the market evolves.

Original Description

At InsurTech NY, Sudarshan Jagannathan from Teqfocus explains how small improvements can deliver real impact.

From onboarding to claims intake, focusing on practical use cases helps organisations get more value from AI.

→ Full article here: https://ffnews.com/newsarticle/insurtech/insurtech-ny-teqfocus-on-practical-ai/