AM Best Executive Vice President and Chief Operating Officer Stefan Holzberger appears as a featured guest on the “Lead The Machine” podcast to discuss artificial intelligence (AI) use across the insurance industry and the organizational and industry dynamics that can significantly impact adoption.

A recent AM Best survey gauging the impact of AI on the insurance industry found that while nearly 60% of respondents expect AI to significantly transform their business models within the next one to three years, data readiness is one of the largest impediments in deploying AI within their organizations. Just 13% of respondents said that they feel confident measuring the return on their AI investment. During the episode, Holzberger talks about how innovation and culture remain keys to insurers’ success. Although he recognizes that many insurers struggle with legacy systems, they could find themselves at a disadvantage if they don’t embrace newer technologies such as AI as they become more prominent.

Holzberger has been with AM Best since 2001 and is responsible for AM Best’s rating operations globally, including data management, the development of rating methodology and models, the assignment of ratings and the management of all rating systems. Also joining the podcast episode is Jeff Rieder, partner and head of benchmarking at Aon.

“Lead The Machine” is hosted by longtime insurance industry executive Kirstin Marr and explores the human side of AI in the workplace. To view the episode, please click here.

To view the AM Best survey report, titled, “Artificial Intelligence Appears to be Ready, But Most Insurers Are Not,” please go to http://www3.ambest.com/bestweek/purchase.asp?record_code=364437.

AM Best is a global credit rating agency, news publisher and data analytics provider specializing in the insurance industry. Headquartered in the United States, the company does business in over 100 countries with regional offices in London, Amsterdam, Dubai, Hong Kong, Singapore and Mexico City. For more information, visit www.ambest.com.

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