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Using AI in insurance training

The insurance industry is witnessing a significant transformation in how adult learning and development takes place, largely driven by advancements in artificial intelligence (AI). These innovations are reshaping instructional design, knowledge retention and skills assessments within insurance organizations. Let’s explore the disruptive potential of AI in adult learning and its profound effects on efficiency, proficiency and overall quality.

AI is revolutionizing instructional design by enabling more personalized and adaptive learning experiences. Traditional one-size-fits-all training modules are being replaced by AI-driven platforms that analyze individual learning patterns and preferences. For example, AI algorithms can assess an employee’s current skill level and dynamically adjust the complexity and pace of training materials, ensuring optimal engagement and knowledge retention. Let’s look at several characteristics that are being influenced by AI; contributing to the enhancement of insurance training programs.

One of the key benefits of AI in adult learning is the ability to personalize content at scale. AI can curate tailored learning paths based on roles, competencies and learning styles. For insurance professionals, this means access to targeted training modules covering specific areas like claims processing, risk analysis or regulatory compliance. AI can also generate content autonomously, reducing the time and effort required for manual content creation.  Research shows that tailored learning can expedite the learning process by up to 25%.

Machine learning algorithms and natural language processing are enhancing knowledge retention by delivering information in digestible formats and reinforcing learning through interactive experiences, repetition and competitive challenges. Virtual simulations and gamification techniques powered by AI make complex insurance concepts more accessible and memorable for learners.  These formats also drive repetition, which builds retention.

Reinforcement refers to the gradual modification of synaptic properties that occurs during learning. These synaptic modifications enable us to learn by forming memories. Chatbots are increasingly used for knowledge reinforcement and on-demand learning support. AI-powered chatbots can answer questions in real-time, provide immediate feedback on training exercises, and offer personalized learning recommendations. Chatbots are becoming more common in insurance interactions among insureds, why not learners? These virtual assistants ensure continuous learning, leading to knowledge reinforcement.

AI-driven skills assessments are transforming the way insurance professionals are evaluated and trained. These assessments analyze employee performance data and provide personalized feedback to help identify areas for improvement. By leveraging AI, insurers can optimize training programs to address specific skill gaps in say coverage, subrogation or estimating systems; leading to faster skill acquisition and improved job performance. An integral part of the evaluation model is automated grading and feedback. The efficiency allows educators to focus more on personalized instruction, student engagement and immediate feedback. Upskilling through the process of quiz, react, redirect helps students learn from their mistakes and improve. This is so valuable when you consider the complexity of insurance nomenclature, application of coverage and efficient use of claims estimating and processing technologies.

The adoption of AI in adult learning has yielded compelling statistics across the insurance industry. For instance, according to a recent article, companies implementing AI-driven training solutions have reported up to 50% reduction in training costs and similar decrease in development time. Moreover, employees trained with AI technologies achieve proficiency in critical job skills up to 40% faster than those undergoing traditional training methods. Harvard Business School revealed that consultants using AI completed tasks 25% faster and with a 40% higher quality output.

So, what’s a practical way to get started? 

A simple recipe
Maybe there is an upcoming meeting, say you have a new product introduction using Teams. At the beginning of the call, ask participants if it is alright to record the session. Hitting record will not only provide an mp4 file of the session, but it can also generate a transcript document of the session. Don’t be surprised if your 1-hour meeting creates a 70-page document. Now, instead of weeding through the document for insights, open Co-pilot and type a prompt like “generate a 1-page job aid from the meeting text, highlighting the features and benefits of the product including an example use case.” Within seconds you will have a draft to review and validate for key points. This document becomes a meaningful training tool to be shared among your sales team. Lean in to learning in this fashion and learn from simple trial and error.

Looking ahead to 2025, the landscape of adult learning in the insurance industry will continue to evolve rapidly. AI is expected to further streamline and automate learning processes, leading to even greater cost savings, reduced time to proficiency, and enhanced customer satisfaction. We can anticipate AI-driven learning ecosystems that seamlessly integrate with employee workflows, providing continuous upskilling and adaptation to changing industry dynamics. What can you do to prepare for change? Start using the tools at your disposal, practice, fail and fail forward. Then share that learning with others.

AI is fundamentally transforming adult learning and development, driving improvements in instructional design, personalization, content creation, knowledge retention and skills assessments. Tangible benefits of AI adoption include cost savings, accelerated development timelines, and improved quality and safety. As AI technologies continue to advance, insurance companies must embrace these innovations to stay competitive, remain an attractive employment alternative and ensure workforce agility to navigate future challenges.

See more:Can gen AI teach the next generation of underwriters?

AI impacts claims for insureds and insurers alike


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Early Bird