Norm Hudson is CEO of Staff Boom, which builds dedicated teams for insurance industry partners, and draws on more than twenty years growing insurance agencies including Cost-U-Less, Confie Seguros and Inszone. In this opinion piece he argues that closing the governance gap in insurance fraud prevention is an operational task as much as a technological one. The views are his own.
A new AI industry survey found that insurance executives are seeing real returns from implementing AI into their operations. Some 52 per cent report AI-driven revenue growth, 62 per cent say it has improved decision-making, and 50 per cent report lower costs. However, that same survey found that only 24 per cent of those executives are confident they could pass an independent review of their AI governance controls within 90 days.
Closing that gap has as much to do with how operations are run day to day as it does with the AI itself.
Voice-based scams have become harder to catch by ear, and AI-generated voices are a big part of why. Recent research found that 70 per cent of people aren’t confident they can tell a cloned voice from the real one, and call centres are fielding more of these attempts than they were even a year ago. The calls sound more convincing each time, and that shift is exactly the kind of thing putting AI governance on so many insurance leadership agendas right now.
New detection tools help, but they only go so far without clear access controls behind them.
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