2026-10-14 · Source: Insurance Business US
Summary in 3 Points • Most companies claiming to use AI effectively are not, according to Clayton Fuchs, vice president of casualty at QuoteWell. • Fuchs predicts a sharp divergence between wholesale and retail distribution outcomes due to AI adoption. • QuoteWell's self-reported team composition has shifted from 90% technical staff to about 30% today. --- Clayton Fuchs, vice president of casualty at QuoteWell, asserts that many companies misrepresent their effective use of AI, highlighting a significant gap between those who integrate AI into their workflows and those who do not. He emphasises the importance of automating transactional tasks while retaining human oversight for critical decisions, particularly in the context of underwriting and placement, to mitigate errors and omissions exposure. Fuchs anticipates a widening divide in outcomes between wholesale and retail distribution as AI adoption progresses. He notes that carriers using AI effectively are already experiencing faster response times and improved quote requests. In contrast, retail agents are burdened by repetitive tasks, hindering their efficiency. This divergence could determine which wholesalers and agencies maintain their placement volume as the market softens, suggesting that those who fully embrace AI will emerge as winners in the evolving landscape. The gap between AI adoption in wholesale versus retail distribution could impact claims handling and underwriting efficiency, influencing market dynamics.
The gap between AI adoption in wholesale versus retail distribution could impact claims handling and underwriting efficiency, influencing market dynamics.