Garrett Koehn, CRC Brokerage & Gordon Wintrob, Newfront: Brokers using generative AI today (284)

InsTech - insurance & innovation with Matthew Grant

InsTech

Entrepreneurship, Investing, Business

4.8 • 50 Ratings

🗓️ 14 January 2024

⏱️ 35 minutes

🔗️ Recording | iTunes | RSS

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Summary

This week, we return with Henry Gale as he caught up with Garrett Koehn, President of CRC Brokerage, and Gordon Wintrob, Co-founder and CTO of Newfront. The discussion covers the potential of generative AI for insurance brokers, with real-world examples of brokers using AI right now. Garrett and Gordon talk about how generative AI can improve the customer experience and discuss which AI solutions are better to build or buy. Listen to this episode to find out more about how “we are all going to become tech companies”. Talking points include: Exploring the use of AI in insurance brokerage - real-world examples Using AI to direct risks to the underwriters most likely to write it How brokers using generative AI helps underwriters Using AI to spot gaps in coverage from contracts with insurance requirements The future of jobs in the insurance industry - supercharge your professionals Updates on insurance and AI start-ups you should know If you like what you're hearing, please leave us a review on whichever platform you use or contact Matthew Grant on LinkedIn. Sign up to the InsTech newsletter for a fresh view on the world every Wednesday morning. To find out more about InsTech, our membership and offerings visit www.instech.co or contact us [email protected] Continuing Professional Development This InsTech Podcast Episode is accredited by the Chartered Insurance Institute (CII). By listening, you can claim up to 0.5 hours towards your CPD scheme. By the end of this podcast, you should be able to meet the following Learning Objectives: Define how generative AI can be included in workflow processes for brokers Specify how generative AI is currently being used in insurance, and where it could be developed and expanded List the positive and negative aspects of developing your own AI software as opposed to adopting a third-party provider If your organisation is a member of InsTech and you would like to receive a quarterly summary of the CPD hours you have earned, visit the Episode 284 page of the InsTech website or email [email protected] to let us know you have listened to this podcast. To help us measure the impact of the learning, we would be grateful if you would take a minute to complete a quick feedback survey.

Transcript

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0:00.0	Hello, welcome or welcome back as a regular listener.
0:11.9	Matthew Grant here.
0:12.9	I'm going to drop off fairly soon though, and Henry Gale today is back with a microphone
0:16.5	this week talking to an old friend of ours, Garrett Cohen, president of CRC brokerage,
0:22.3	dialing in from California and Gordon Winthrop, co-founder and CTO of Newfront.
0:29.1	Now, we've been hearing a lot about generative AI,
0:32.5	and we're going to hear direct from the front line of how brokers are taking advantage
0:36.4	of some of the applications of
0:38.9	genitive AI, but also from Gordon's perspective, what are they doing with Newfront? As usual,
0:45.0	a whole lot here to learn. And if you want to know more about what we're doing at Instech,
0:49.2	how he can help you. If you've got stories and things to share about what you're doing
0:53.5	around innovation, or you're
0:55.3	just an insurance company curious to know what other companies are out there, then please do let us
0:59.3	know. You can bind us at www.com. But that's it for me. Over to Henry, Garrett and Gordon, it's great to have you on the Instech podcast today.
1:21.6	Thanks for having us. Thanks for having us, Henry.
1:24.0	So I'm going to start with you, Garrett, because you know, your second appearance on the podcast.
1:28.5	You're the president of CRC brokerage, and CRC is one of the largest wholesale insurance brokers in the US
1:34.0	across lots of different lines of business. You're also an enthusiast for technology and
1:39.3	innovation and invest to yourself in various startups in insurance technology and other areas.
1:45.9	And the last time we had you on the podcast was pre-ChapGPT.
1:50.3	Now we're post-ChapGPC.
1:52.0	Everyone's talking about AI and generative AI much more than they were then.
	...

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