Flow Specialty, a next-gen specialty wholesale insurance brokerage, has unveiled its vision for the future of AI as it looks to become the only brokerage with full agentic AI integration.
The initiative aims to educate the insurance industry on the application of agentic AI in offering professional liability, management liability, and cyber insurance products, according to InsurTech Insights.
The firm is aiming is to leverage agentic AI to streamline tasks and decision-making processes in insurance, enhancing efficiency and productivity.
By doing this, Flow Specialty seeks to address the evolving needs of retail agents and carriers, providing solutions from both admitted and non-admitted markets.
Agentic AI describes artificial intelligence systems capable of autonomously performing tasks and making decisions. These systems function similarly to a smart assistant, managing specific tasks independently. They streamline operations by making decisions and taking actions aligned with set goals, thereby enhancing efficiency and productivity.
Through this new credo, Flow Specialty’s is upping its commitment to five core values and beliefs: People First, Human Supervision, AI as a Tool, Transparency and Trust, and Privacy and Data Ownership.
These principles ensure that AI enhances human capabilities while maintaining the highest standards of service, confidentiality, and ethical use.
Flow Specialty’s AI-driven technology prioritises human supervision to ensure accurate interpretation and contextualisation of data.
Transparency in AI operations is maintained to build trust, and strict privacy standards are upheld to protect client and agent data.
The synergy between human and artificial intelligence is key to delivering exceptional, reliable, and insightful advice for clients’ insurance needs.
“We believe that AI has the opportunity to revolutionize our industry, but we also believe that companies should be intentional and transparent in the way they are building and using AI,” said Sivan Iram, CEO, Flow. “That is why we decided to openly share this AI credo, and invite other companies in the insurance space to do the same and have an open discourse about it.”
“We want the insurance industry to understand that there are unique human qualities that AI could never replace properly, and we are dedicated to a future where AI serves as an ally to our brokers,” added David Derigiotis, Head of Insurance, Flow. “As the only AI integrated insurance brokerage in the market today, Flow is infusing technology and insurance at the cellular level, driven by insurance people who are proficient in AI prompt engineering.”
Keep up with all the latest FinTech news here.
Copyright © 2024 FinTech Global
