Podcast Appearance by Monoline Co-founder, Jerod Blakestad: PRMA Insurance Thought Leaders Insight Series
Embracing AI in the Insurance Industry: Insights from Jerod Blakestad
Interviewed by PRMA’s Spencer Houldin in the latest episode of the PRMA Insurance Thought Leaders Insight Series, our very own Jerod Blakestad, co-founder of Monoline, shares his perspectives on the transformative role of AI in the insurance industry.
“AI can handle repetitive tasks, allowing professionals to focus on more strategic roles.”
Jerod emphasizes that AI should be viewed as an enhancer rather than a replacer of jobs. He notes, "AI can handle repetitive tasks, allowing professionals to focus on more strategic roles."
Jerod’s journey in the insurance industry is a testament to his innovative mindset and deep understanding of market needs. After founding his own insurance agency, he co-founded OpenTrack, a company that reflects his commitment to integrating advanced technology into traditional business models. His experience has provided him with a unique perspective on how AI can drive the industry forward.
Jerod and Spencer discuss ithe importance of embracing technological advancements to stay competitive. Jerod advises industry professionals to keep abreast of AI developments and consider how these tools can be incorporated into their workflows to enhance productivity and service delivery. "The insurance industry is at a pivotal point," Jerod remarks. "Embracing AI now will set the foundation for future success." This approach aligns with the broader goal of leveraging technology to improve efficiency and enable professionals to engage in more meaningful, strategic work.
“The insurance industry is at a pivotal point. Embracing AI now will set the foundation for future success.”
Jerod also touches on the practical applications of AI in insurance, such as improving customer interactions and streamlining administrative tasks. By automating routine processes, AI allows agents to dedicate more time to building relationships and addressing complex customer needs, ultimately enhancing the overall client experience.
AI: A Tool for Empowerment, Not Replacement
Jerod emphasizes his belief that AI will not replace jobs, but rather, "a person using AI will replace a person not using AI." This distinction highlights the potential of AI as a tool for empowerment. By taking over mundane and repetitive tasks, AI frees up professionals to focus on more complex, value-added activities. This shift not only advances careers but also increases job satisfaction by allowing individuals to engage in more intellectually stimulating and rewarding work. In this way, AI can elevate people, enabling them to reach new heights in their professional development.
Looking Ahead: The 2024 PRMA Summit
Monoline is looking forward to addending the 2024 PRMA Summit, a premier event that will bring together industry leaders, innovators, and professionals to discuss the future of insurance. This summit will feature keynote speeches, panel discussions, and workshops focused on the latest trends and technologies shaping the industry. Attendees will have the opportunity to network with peers, gain valuable insights, and explore new strategies to enhance their business operations. The summit is an excellent platform for learning about cutting-edge advancements, including the integration of AI and other digital tools in insurance practices. We look forward to meeting you there!
For a more in-depth understanding of Jerod insights and to hear the full conversation, you can listen to the full episode here.
