California Regional Multiple Listing Service (CRMLS) has expanded their partnership with Styldod, the AI-enhanced virtual staging and image editing product solution, to integrate an identification and analysis process for listing photos. The photo analysis software -- an API integrated within CRMLS' product ecosystem REcenterhub -- will automatically detect image elements such as logos, watermarks, branding, contact information, QR codes, NSFW content, human faces, and more. If a potential compliance issue is detected, the AI will route this information to agents and brokers and give them the opportunity to make corrections. In addition, this new integration can offer users intelligence and provide real-time analytics by aggregating readily available data that has previously been left uncharted. "Styldod's technology has proven to be amazing at sophisticated detection," said Art Carter, CEO of CRMLS.

Machine learning has proven to be useful for insurance agents and brokers in various ways. These include capturing knowledge, skills, and expertise from a generation of insurance staff before they retire in the next 5 to 10 years and use it to train new employees. FREMONT, CA: Technology has become the dominant force across all businesses in the last few years. Disruptive technologies like Artificial Intelligence (AI), machine learning, and natural language processing are improving rapidly and quickly, evolving from theoretical to practical applications. These technologies have also made an impact on insurance agents and brokers. Many people continue to view technology as their foe.

Fremont, CA: Artificial intelligence, machine learning, and natural language processing have proliferated over the last few years and established themselves as disruptive technologies in every sector. The applications for these technologies are vast and bring a plethora of options for businessmen. In a short span, these technologies have gone from being theoretical discussions to practical applications. Like all other industries, the insurance sector can also benefit significantly from these technologies. There is a lot of hesitation when it comes to accepting new technology, and a lot of people refuse to believe that a machine can perform their job.

The last decade saw a huge change in the way insurance industry functions. As we step into 2020 with AI-driven InsurTech initiatives, the next one promises to be even more of an adventure. Innovation and technology are going to be the forefront, but any predictions about future trends may have a tendency to be short-lived. At the beginning of the previous decade, it would have been impossible to imagine that the consumers would trust their hard-earned to anyone other than a qualified agent, who could deliver a personal touch and inspire confidence in their investment. Today, insurance customers are willing to buy insurance and take financial advice from AI virtual assistants.

With A.M. Best's initiative to take insurers' ability to innovate into account as an element of its rating methodology, the point couldn't be clearer – technology is part and parcel of the insurance industry, and the work of brokers and agents is no different. Argo Group's recent report, "The Future of Insurance – 2019 Insights: Technology and Climate Change Creating Today's Risks and Opportunities," delved into the minds of brokers and small businesses to reveal expectations around topics that included climate change, cryptocurrency, and autonomous vehicles. The findings showed that, for example, 77% of brokers expect autonomous vehicle usage to reduce the number and severity of accidents, while 59% expect it to help decrease insurance premiums. However, other technologies are not as top of mind. Thirty-nine per cent (39%) of brokers say they are only somewhat familiar with IoT concepts, even as 91% of brokers see IoT as the dominant technology threat over the next 12 months.

The future lies in leveraging smart technology to streamline sales, increase conversions and have more productive agents and brokers. If your agency is still picking up the phone and hoping for the best, things probably aren't going to turn out the way you imagined. The real future of insurance lies in leveraging the power of smart technology to streamline the sales process, increase conversions and have more productive agents and brokers. Sounds like a dream for your business, right? Every agent and broker wants to be able to sell more efficiently, hitting the right customers with the best products for their needs, and not waste time.

If your agency is still picking up the phone and hoping for the best, things probably aren't going to turn out the way you imagined. The real future of insurance lies in leveraging the power of smart technology to streamline the sales process, increase conversions, and have more productive agents and brokers. Sounds like a dream for your business, right? Every agent and broker wants to be able to sell more efficiently, hitting the right customers with the best products for their needs, and not waste time. Operating this way lets sales professionals shine and it provides excellent customer service -- something consumers expect today.