How AI is changing the way Australians shop for business insurance 

At Insurtech Australia’s recent Beyond the Buzzwords event, BizCover General Manager Brad Miller and Chief Information Officer Dino Tius joined a discussion exploring the future of agentic AI and what it could mean for insurers, brokers and, most importantly, customers. 

Rather than debating whether AI will replace people, the conversation focused on something much more immediate: how AI is already changing the way customers research, compare and buy products and services, including business insurance. 

As more Australians turn to AI-powered tools to answer questions and compare providers, understanding how AI fits into the insurance buying journey is becoming increasingly important. Brad and Dino shared their thoughts on how AI is already helping customers shop for insurance and how it could shape the future. 

How AI is helping customers shop for insurance today 

While fully autonomous AI purchasing may still be some time away, AI is already making it easier for customers to research business insurance. 

“Whether it’s understanding unfamiliar insurance terms, comparing providers or learning about different types of cover, AI is helping customers become more informed before they ever speak to an insurer or broker,” explained Dino.  

Corroborating that idea, Brad said, “This is simply the next evolution in how customers search for information online.” 

For almost two decades, businesses have focused on improving their visibility in search engines like Google. Now, AI-powered tools such as ChatGPT are becoming another place where customers begin their search for information, products and services. While search engines remain important, generative AI is changing how people discover businesses by delivering direct answers, summaries and recommendations in response to natural language questions. 

Recognising this shift in customer behaviour, BizCover launched Australia’s first business insurance quoting experience within ChatGPT in March 2026, giving small business owners another way to compare insurance options. 

“We need to be where customers are,” Brad said during the discussion, referring to BizCover’s venture into the AI app space and the growing importance of being visible in AI-generated results. 

For customers, AI can help narrow down options, explain insurance in simpler language and answer common questions before they speak with a provider, helping them start the purchasing journey with greater confidence. 

Human expertise still matters 

While AI is changing how customers research and compare products, Brad and Dino were clear that it won’t replace human expertise, particularly when it comes to important financial decisions like insurance. 

“[The customer] can do a bit of research so they better understand their needs, but it doesn’t replace the value of speaking to someone who understands the finer details of insurance products and business risks,” said Brad.  

This aligns with BizCover’s long-standing mission of making business insurance simpler for Australia’s small businesses. Whether a customer starts by speaking with a broker, visiting the BizCover website or asking ChatGPT a question, the goal remains the same: to take the hassle out of business insurance for SMEs. 

Brad noted that there is still “a lot of value in traditional brokers giving advice”, particularly for businesses with more complex risks that require a deeper understanding of their operations. He also pointed out that business owners often want the reassurance of speaking with a real person when protecting their livelihood. 

“If you’re starting a small business that’s in your family, at the moment, you’re not going to rely solely on what ChatGPT says. You want to speak to a professional with expert knowledge that you can trust,” said Brad.  

Dino reinforced that today’s AI tools are designed to support – not replace – the existing insurance process. Pricing, underwriting and regulatory controls remain unchanged. 

“There’s a disruption in distribution, but it’s really just about making things more efficient,” said Dino. 

And what about Agentic AI? 

While AI is already helping customers research and compare insurance, the fully agentic experience – where AI assistants can complete complex tasks on a customer’s behalf – is still evolving. 

In simple terms, Agentic AI refers to AI assistants that can do more than answer questions. They can also complete tasks on a customer’s behalf, such as gathering information, comparing options and, eventually, helping complete transactions. 

However, as Dino explained, this is “some way away, and there’s a lot of hurdles to get over before we get to that point.” 

Those hurdles include technical development, commercial models and regulatory requirements, particularly in industries like insurance where pricing, underwriting and customer protections remain tightly controlled. 

For now, customers should be focusing on how AI can help them better understand their insurance options before they make a decision – rather than relying on AI to purchase insurance for them.  

That is the real opportunity right now: AI can help customers feel more confident and make more informed choices, while businesses still get the chance to deliver the expertise, reassurance and personal support that matter most. 

The future of insurance shopping is becoming smarter, faster and more informed – and the businesses that embrace that change will be the ones customers rely on and return to.