Navigating leadership and innovation in insurance: A conversation with Laurel Jordan

In this episode of Fail Faster, we sit down with Laurel Jordan, Insurance TPA Officer and Solutions at Sutherland.

Laurel shares her remarkable journey from a strict upbringing and a diverse professional background to becoming a leader in the insurance industry. She discusses the power of technology in insurance, the importance of employee experience, and her advocacy for women in leadership roles. Join us as Laurel reveals valuable lessons from her career, insights on digital transformation, and the future of insurtech.

In a snapshot

Takeaways

• AI is revolutionizing the insurance industry by improving fraud detection, underwriting, and claims processing.
• Employee experience is enhanced through technology, allowing employees to focus on more meaningful work and increasing morale and engagement.
• AI applications extend beyond chatbots, including automating medical document summarization and improving accuracy in underwriting and claims management.
• Advocating for women in leadership is crucial for creating a more inclusive, diverse, and innovative workforce.
• Persistence and collaboration are essential to driving change in the insurance industry and beyond.

Insights

In our conversation with Laurel Jordan, a trailblazer in insurtech, she shared valuable insights into how AI in insurance is reshaping the sector and improving both employee and customer experiences. Here are some of the highlights from our discussion:

AI and voice analytics in fraud detection

Laurel highlighted the increasing use of AI in insurance, specifically with voice analytics in fraud detection. By leveraging AI to identify potential fraud in insurance claims, companies can flag suspicious calls and streamline the claims process. This technology allows experts to focus on high-risk cases while automating routine tasks, making fraud detection faster and more efficient.

Improving the employee experience

Laurel emphasized the importance of improving the employee experience through technology. By automating repetitive tasks, companies can free employees to focus on more meaningful work, boosting morale and skill development. When employees feel valued and empowered, it directly impacts the quality of customer service, leading to happier customers.

AI beyond the chatbot

While chatbots are often the first thing that comes to mind with AI in insurance, Laurel explained how the technology is having a much broader impact. From automating the summarization of medical documents to assisting with underwriting, AI is transforming the claims and underwriting processes across the insurance industry. By making these processes faster, more accurate, and less error-prone, AI in insurance is reshaping the operational landscape.

Advocating for women in leadership in insurtech

Laurel is a strong advocate for women in leadership, particularly within the insurance and tech industries. She’s focused on shifting the narrative from gender to skill and competency, ensuring that leadership opportunities are based on the value someone can bring rather than their gender or background. Laurel believes this approach creates a more inclusive and effective workforce, driving both digital transformation in insurance and innovation in insurance technology.

Creating a legacy of change in insurtech

As Laurel looks ahead to retirement, she’s focused on leaving a legacy of progress and change in the insurance industry. Her advice? Never give up on what you believe in. She encourages others to push forward, leverage their networks, and collaborate to drive change, especially in industries like insurance, which can sometimes be slow to adopt new ideas. AI in insurance plays a pivotal role in accelerating this change, making it a key enabler of the digital transformation journey.