Season 14 Episode 33

Clyde Parsons on AI, insurance innovation, and financial advice

03 August 2026 · 27:41 min

AI in insurance could make cover simpler, more affordable, and accessible while strengthening financial advice rather than replacing the human element.

Clyde Parsons, Head of Innovation at Liberty, explains what genuine insurance innovation should achieve for South African consumers and… businesses. He discusses the country’s protection gap, why many households and entrepreneurs remain underinsured, and how better products can support financial resilience and economic growth.

The conversation explores how artificial intelligence and customer data can help advisers understand individual needs, automate repetitive work, and deliver more personalised cover. Parsons explains why human judgement, behavioural insight, and difficult financial conversations will remain essential even as insurance becomes more digital.

He also addresses data privacy, responsible AI adoption, and the trust insurers must maintain when using sensitive customer information. Looking ahead, Parsons identifies simplification as one of the industry’s biggest opportunities: making insurance easier to buy, understand, adjust, and claim from while using sophisticated technology behind the scenes.

0:00 Intro
1:18 What insurance innovation really means
6:22 Why the insurance protection gap persists
10:07 AI, data, and better financial advice
13:39 Will AI replace financial advisers?
18:03 Data privacy, trust, and responsible AI
22:48 The future of insurance innovation

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