AUB backs its AI tools to ‘make good brokers better’
AUB Group’s BizCover has developed a ChatGPT-based app aimed at micro-SMEs, under a company-wide push to harness artificial intelligence gains.
CEO Mike Emmett said this week AUB was awaiting approval from ChatGPT parent OpenAI for release of the app, which will offer factual answers in natural language to questions from businesses that would not typically use a broker.
“Importantly, this is not about bypassing advice,” he told a results briefing on Tuesday. “It is about improving accessibility and engagement within our ecosystem to clients who currently wish to navigate through digital channels and seek products that are less reliant on personal relationships, trust and advice.”
Mr Emmett says artificial intelligence is a growth enabler and AUB is implementing more than 35 AI solutions to help brokers and customers across the group.
“There’s a narrative suggesting AI will automate advice, disintermediate brokers and commoditise the industry. I take a different view,” he said.
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AI enables brokers to analyse data faster, to identify emerging exposures earlier and benchmark clients more precisely, while automating routine tasks, he says.
“It sharpens technical insight through policy wording analysis and coverage comparison, and it strengthens compliance oversight. AI handles the repetitive, brokers handle the consequential.”
Mr Emmett says the BizCover app is for clients who prefer digital engagement and transactional simplicity, but advice becomes more valuable as complexity rises in the mid-market and commercial sectors, particularly when claims occur or risks evolve.
“We are using AI to improve digital distribution where it makes sense, and to enhance broker capability where advice is critical. AI doesn’t remove the broker. It makes good brokers better. Within AUB, we see AI as a capability multiplier – a superpower that amplifies the expertise already in the group.”
AUB’s first-half underlying net profit increased 13.9% to $90.4 million, underpinned by the Australian broking and agencies divisions, international operations and BizCover. New Zealand earnings fell.
The company has upgraded its full-year underlying net profit guidance to $220-$230 million.
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