Artificial intelligence is changing how insurance companies and InsurTechs approach everything from customer service to underwriting and claims. But as these technologies move deeper into business operations, companies in the sector face a challenge that is different from simply adopting a new software tool: they need to scale AI while maintaining control over compliance, risk and increasingly complex workflows.
The issue is becoming more relevant as insurers experiment with agentic AI systems capable of managing multiple steps in a process rather than performing a single task.
McKinsey estimates that generative AI could unlock between $50 billion and $70 billion in annual revenue opportunities for the insurance industry, with potential applications across marketing and sales, customer operations and software engineering. Its research also points to measurable improvements among insurers that have integrated AI across business functions.
For InsurTech companies, however, the opportunity comes with an operational requirement. AI systems still need to operate within regulatory frameworks and connect with processes that involve insurers, property managers, customers and other stakeholders.
From automation to operational infrastructure
One area where this transition is becoming visible is property management, where insurance compliance can involve large numbers of residents, policies, vendors and documentation.
GetCovered is building technology around that problem. The company provides an AI risk platform for property management designed to bring insurance and other operational risk workflows into a single system. It currently says its platform is used across more than 3 million rental units.
Its platform uses AI agents to handle tasks such as chasing missing documents, classifying insurance documents, checking compliance, extracting information from contracts, predicting potential lapses and escalating cases that require human attention.
GetCovered’s AI layer currently includes 16 agents covering areas such as renters insurance, vendor compliance, reviews, pets, deposits and spend management. The company says the system is designed with human oversight, audit logs and explainable outputs.
The approach reflects a broader shift in InsurTech: AI is increasingly being positioned not only as a tool for analyzing information, but as part of the operational infrastructure through which companies manage risk.
GetCovered expanded that strategy in June when it acquired Revyse, a vendor compliance and contract management company. The deal added capabilities around vendor compliance, contract management, spend intelligence and AI powered automation to GetCovered’s existing insurance compliance platform.
The company says the combined platform is intended to manage risk across both residents and vendors, creating a single operational layer where rules can be defined, enforced and tracked.
That direction also highlights why operational discipline remains relevant as AI adoption accelerates.
In a recent discussion about the future of InsurTech, Rick Folgmann, COO of GetCovered.io, argued that rapid growth needs to be accompanied by repeatable processes and stronger operational foundations.
“At GetCovered.io, we focus on building repeatable, scalable workflows early, while the organization is still flexible enough to change.”
For companies operating in regulated industries, the value of AI therefore depends on more than the capabilities of the underlying models. Systems need to be integrated into workflows that can be monitored, audited and adjusted as regulations and business requirements change.
That becomes particularly important as AI moves toward more autonomous processes.
The insurance industry’s next stage of AI adoption may consequently be less about adding another AI feature and more about redesigning the operational infrastructure around it.
For InsurTech companies such as GetCovered, that means building AI into the processes through which risk is identified, managed and acted upon, while keeping humans involved where decisions require additional context or oversight.
