BROBrown & Brown, Inc.

“We're scaling AI agents that will automate more than 25% of the end-to-end submission process for many of our programs and wholesale businesses, achieving material cost reductions and removing throughput limits. This incremental underwriting capacity is being redirected to high-value revenue growth activities. These agents are enabling more processing in the same day, thereby improving the customer experience, accelerating growth through higher win rates and driving stronger underwriting results for our carriers.”

“we've built a proprietary platform that electronically interfaces with carrier billing portals, automatically extracts and validates billing data, flags exceptions for review and then files the customer policy in our agency management system. This platform is already saving more than 50,000 hours annually and continues to be rolled out across the company.”

“we don't view AI as a teammate replacement tool. That's number one. Number two, we absolutely believe it improves the customer experience and we talked a little bit about that as it relates to 25% of the stuff in Specialty Distribution going through and routing which makes us more efficient. And then number three, it helps us identify growth opportunities with new or existing customers.”

“In Retail, our policy checking agents automate traditionally manual proposal comparison and policy reviews, improving risk insight while reducing E&O exposure. We have also created capabilities that pull key features from complex policies to create clear customer summaries, simplify the customer conversations and improve retention.”

“We're investing in world-class data and AI teammates, enterprise-grade technologies and a strong ecosystem of technology partners. Our approach is to combine out-of-the-box AI tools and proprietary Brown & Brown AI products that embed our data workflows and deep insurance knowledge. We're embracing an AI-first culture built on fail-fast incubation, cloud-native platforms, modern APIs and a scalable data foundation.”

“I believe that we actually -- or at least to this point, but going forward, I believe we will do both. And so we are not at a point where we're going to discuss who those people are, but the answer is we look at it as sort of a combination. And depending on what we're trying to achieve will dictate what portion of the business and what we're trying to achieve would probably dictate which way we lean into.”

“We believe the primary risk is that customers think they no longer need a broker and choose to go direct. This can happen today with or without AI. Our differentiators remain breadth of carrier relationships, a solution mindset, technology, industry experience, service and claims advocacy.”

“Our technology and data journey commenced over 10 years ago, specifically when we began platform rationalization and data standardization across our business. These investments were foundational as AI is only effective when built on clean, standardized and scalable data platforms.”

“We think business segments with the highest theoretical AI exposure are admitted aggregators and highly standardized small accounts businesses. These are not areas where we have invested significant capital or have material revenue.”

“We view AI as an enabler and an accelerator of our existing strategy. As we deploy AI capabilities, they are led by the business and are focused on targeted use cases that have measurable success metrics that can be scaled.”

“We feel confident that it will improve the customer experience, the underwriting and placement process, the productivity of our teammates and drive incremental growth in revenue and margins over the coming quarters.”

“The opportunities created by AI and further industry automation would include higher submission flow and new revenue channels, thereby helping us capture more market share.”

“I actually think anytime there's complexity, that leans much more in the favor of the brokerage community. So I actually would not agree with that statement.”

“do we expect our overall cost of technology to go up as a result of implementing all these capabilities? Yes, probably will.”

“I don't like to say never or always. But I actually think that if you look at the way the risk-bearing community is looking to grow and people are trying to come to market as evidenced by reinsurance companies trying to get into the insurance business and get closer to the market, I believe that there -- it's possible, but I don't think it's highly probable.”

“we also wanted to take some time to provide an update on our technology and data journeys with a focus on how we're leveraging these capabilities in combination with artificial intelligence to provide even more value to our customers, teammates and carrier partners.”

“AI disintermediates tasks. AI does not disintermediate trust. And so our business is built on trust and good advice.”