Paul the Insurer 8: Robots everywhere – How robots are shaking up the insurance industry

The insurance industry is facing radical change: robots and artificial intelligence are increasingly taking on tasks that were previously the preserve of humans. From risk assessment and claims settlement to corporate management. The future of insurance is digital, automated and more efficient than ever.

Robots are no longer science fiction. While robots are already assisting surgeons in the medical field, the insurance industry is now beginning to reap the benefits of automation. Paul, host of the Paul the Insurer podcast, reveals how the industry is benefiting from the latest technological developments, most notably the powerful chips from technology giant NVIDIA.

NVIDIA chips as the engine of transformation

NVIDIA, known for its innovative processors, has fundamentally changed the way insurers work with its chips. The new technologies enable risks to be assessed more precisely, products to be marketed more efficiently and complex strategies to be simulated in real time. Solvency ratios are calculated automatically, reports are generated in different languages and decisions are accelerated.

But according to Jensen Huang, CEO of NVIDIA, this is just the beginning: the next stage is “physical artificial intelligence”, i.e. chips that control robots and therefore take over physical tasks.

Practical applications: Robots in everyday insurance life

What exactly do these applications look like? Paul gives specific examples:

• Risk assessment: Drones and robots inspect buildings or systems on site, collect data and report it to central computer systems that analyze the risk.
• Damage assessment: satellite images and drones provide detailed images of damage such as a fire. Robots enter the damage site, take samples and assess environmental pollution.
• Life insurance: Robots carry out health checks on applicants, measure blood pressure, take blood samples and even give health tips.
• Corporate management: In future, even the boardroom could consist of robots that adopt different perspectives – optimistic, creative, pessimistic – and thus make balanced decisions.

The future is now: invitation to help shape it

Is this all still a dream of the future? Paul sees this as an invitation to shape the future of the insurance industry together. With the right materials and contacts, insurers and interested parties can play an active role in shaping this change.

The integration of robots and artificial intelligence promises a more efficient, more precise and more customer-oriented insurance world. Those who recognize and take advantage of the opportunities offered by these technologies today will help shape the industry of tomorrow.

Binci Heeb

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Listen and read also: Paul the Insurer 7: Computers communicate with computers in a compliance language