News Summary

PolicyMe, a Canadian insurtech startup, is pioneering the adoption of artificial intelligence in the insurance sector, a move that highlights the industry’s ongoing digital transformation. Co-founders Laura and Jeff McKay discuss how AI is being integrated into their services to enhance customer experience and streamline operations. Despite the potential benefits, there are significant concerns about data security, with predictions of increased data leakage in the coming years. This sentiment is echoed in CGI’s 2023 ‘Voice of Our Clients’ research, which emphasizes the urgency for Canadian insurers to become future-ready amidst rapid technological advancements. The research indicates that many insurers are prioritizing AI to stay competitive in a fast-evolving digital economy.