The demand for workers with artificial intelligence-led skills is accelerating across all industries worldwide. This was one of the findings from a report compiled in a greener last Wednesday titled “The Fearless Future: PWC’s 2025 Global AI Jobs Barometer.”
PWC is a professional services company operated worldwide. Three major industries with the highest demand for AI-skilled workers have been identified. That is, information and communications, professional services, and financial services. Billion job ads and companies exposed to AI from around the world have been voted.
The study urged employees to quickly reskill and build trust as AI relies on strong governance.
Meanwhile, some local individuals are beginning to experiment with AI in amazing ways, besides being a research tool to help them write school papers. One doctor told me about a teenager whom he wanted to consult with. At the end of the session, the patient stated that the information from face-to-face interactions was identical to the digital content provided by the popular AI-driven conversational agent developed by OpenAI. AI was the first source of information.
The PWC Report aimed to see, more specifically, how it is applied to educational institutions as there is growing interest in digital transformation. Digital transformation is the process by which an organization uses digital technology to fundamentally change how it operates, provide value to its customers, and adapt to a changing environment. AI is the core part of digital conversion.
The inspiration for today’s comment was the work of the Jamaica Observer on June 18th written by Ian Miller, Chief Technical Director and Head of Compliance at BCMG Insurance Brokers. The company operates in the local financial services industry.
The context of this work was the 2025 Atlantic Hurricane Season, dubbed “companies and individuals facing new pressures to ensure that insurance arrangements are not merely compliant, but are resilient.” The headline “When Uncertain Times Seek Expert Guidance – Here’s why brokers are needed today,” suggests high standards of expertise.
The key points highlighted in the article are: The current state of the local and international property insurance market. Deductions for Caribbean consumers’ reinsurance capabilities, competition, costs and natural catastrophes.
After reading the article a few times, I decided to pause the following question to the AI app on my desktop. My aim was to compare the advice provided by the brokerage company with the responses generated by the AI.
Questions raised: The 2025 Atlantic Hurricane Season begins on June 1st and continues until November 30th. Many weather experts predict “above average activity” and are potentially characterized by an increased risk of rapid strengthening. This is compared to the 2024 “overactive season.” The following questions are raised against the background. and in the context of the threat posed by small islands in the Caribbean and by developing countries and climate change. 1) What were the important lessons learned during the 2024 season? 2) What are some of the key prestorm tips recommended by risky professionals to protect households, ensure business continuity, keep employees safe, and submit insurance claims to achieve maximum recovery? 3) They are evidence-based recommendations and if so, explain them.
response
a) Lessons learned from the 2024 hurricane season (SIDS context in the Caribbean):
1. The rapid strengthening of hurricanes highlights that Hurricane Beryl became the oldest Category 5 in early July, promoting faster strengthening in the ocean.
2. Climate change exacerbates events: rising sea level temperatures double the probability of overactive or extreme seasons, and strengthen SIDS storms.
3. Combined Economic Impact: Beryl cut Grenada’s GDP product and 30% of St. Vincent and Grenadine by 16%, highlighting the vulnerability of the island economy.
4. Regional Scenario Planning Work: The East Caribbean and the CDEMA organizations had preliminary scenarios implemented. Its foundations enabled the rapid mobilization of drinking water, relief and safety messages.
5. Most deaths occur outside the vehicle. In line with widespread findings, injuries/deaths often occur during boarding/deboarding or when drivers misdetermine the speed of a storm – community awareness remains essential.
It was surprising that even though the AI feature was supposed to know that the question was raised by someone resident in Jamaica, there was no information about the economic impact Beryl had on Jamaica’s GDP. Also, local policymakers who participated in post-Beryl recovery efforts did not talk about the lessons they learned from the hurricane.
b) Pre-storage recommendations for households and businesses:
1. Household:
•Safe real estate assets: Strengthen your roof, shutters and doors. Increase equipment above flood levels.
•Backup Documents: Back up ownership records, IDs and insurance contracts with photos and digitally.
• Emergency kit: Assemble food, water, emergency, medicine, flashlight, and batteries.
•Evacuation and Shelter Planning: Know safe routes and shelters. Rehearsal of evacuation.
2. Business and Continuity:
•Comprehensive Business Continuity Plan (BCP): Includes crisis communication, remote work and backup data centers.
• Insurance Audit: Check the validity of wind, flooding, business interruption, entrance/output coverage. Check the deduction amount and waiting period.
•Pre-season asset inventory: Document properties via photos/video. Focus on the serial number and register the asset as a tag.
• Emergency Teams and Drills: Form a Disaster Response Team. Perform regular drills and update emergency contact protocols.
3. Employee safety:
• Crisis Communication System: Allows all employees to reach front, middle and stops.
• Remote Work Policy: Flexible work arrangements that cause disasters to disrupt physical operations.
•Training: First aid, shelter procedures, evacuation protocols.
4. Insurance and claims:
• Detailed Record Keeping: Track all storm preparation activities (date, invoice, repairs).
•Timely Report: Skiply submit claims with support documents and photos.
As brokers focused on the insurance and reinsurance market situation, they were forced to ask more questions to inform their comparisons better.
Below is a summary of AI-generated responses for the Caribbean property insurance market.
a) Current situation and challenges:
• Rising premiums at altitude: Climate risks such as hurricanes, floods and heat reduce coverage accessibility that leads to increased insurance costs and “insured deserts” in high-risk areas.
•The insurance is still under insured. Compared to 30% in North America, only 4% of Caribbean disaster damage are covered by insurance.
• Regulation complexity and talent shortage: Insurance companies must navigate multifaceted regulations while dealing with local talent and legacy systems in small pools. These conditions hinder efficiency.
b) Reinsurance Capacity: The Caribbean risk capacity has not diminished as it was several years ago. However, local insurance companies must compete with counterparts in the Cayman Islands and Florida. Price increases and more compensation restrictions are common. These conditions put pressure on local consumers.
As the brokers suggested, internal technology teams supporting innovation through platforms that make policy management more accessible and efficient are not enough for today’s world. Starting your digital transformation journey must be your next goal: That set of actions fundamentally changes how customer value is generated and helps the company adapt in a new environment.
Hearted Company Services Limited, also known as WH Car Services, is an auto repair shop called “Chinese mechanics” on the streets on the boundary between St Andrew and St. Catherine, another example of a business company that recognizes local consumers are demanding more refined and new ways to do so.
Cedric E. Stephens provides independent information and advice on risk and insurance management. For free information or advice, please write to aegis@flowja.com or business@gleanerjm.com
