Republish from the special edition of Nextdeal (Issue 560)

Kimon-Reinier Efstathopoulos, CEO, Dynamis Asfalistiki

Artificial Intelligence (AI) is, no doubt, one of the most defining technological innovations of recent years. Its momentum is gradually starting to have an impact on the insurance sector too, bringing with it new possibilities but also significant questions. In the Greek insurance market, we are still at the early stages of this transition. Greek insurance companies are just beginning to explore the capabilities of AI through pilot programs, aiming to gain a deeper understanding of its applications, benefits, and potential risks.

AI can fundamentally transform risk assessment, pricing, customer service, and the speed of claims processing. Our company, recognizing the importance of innovation and technological progress, has already started implementing specific AI-related projects. We are primarily focusing on leveraging AI to improve customer experience, automate internal processes, and enhance the accuracy of risk evaluation. Despite the initially encouraging results, this technology is still in its early stages and requires continuous testing and improvement.

Kimon-Reinier Efstathopoulos

However, as with any new technology, we approach its implementation with a healthy degree of caution. It is still too early to define conclusions. AI is evolving rapidly and, although its potential is impressive, there is room for errors, especially when it comes to critical decisions that affect human lives and financial compensation. Issues such as algorithmic transparency, personal data protection, ethical considerations, and regulatory compliance are crucial factors that cannot be overlooked.

Within this framework, our strategy is clear: we adopt technology with careful steps, test its applications in safe environments, and always keep the human element at the center of the insurance process. AI must serve as an excellent support tool but without replacing human judgment and experience.

We are investing gradually and methodically, with the goal of sustainably and responsibly integrating AI capabilities into our operations. Our aim is to ensure both the quality of the services we provide and the trust of our clients in a rapidly changing world.

Finally, Artificial Intelligence is now an integral part of technological progress that also affects the insurance industry. For insurance companies, the challenge lies in deeply understanding its use, incorporating it responsibly into their operational planning, and leveraging it wisely—while maintaining the human factor as the cornerstone of their operations.

Read below the article from the special edition of Nextdeal (Issue 560) in electronic format, page 64-65 (click bottom right to enlarge)