AI in Insurance: Where the Real Opportunities Lie for Insurers

Everyone is talking about AI, but are insurers focusing on the right opportunities?

Over the past two years, AI has dominated conversations across the insurance industry. Every week seems to bring another announcement promising to transform underwriting, pricing, or operations.

But where is AI delivering the greatest value today?

In our latest research report, produced in partnership with Insurance Post, we explore what insurance leaders need to know about AI and why the biggest opportunity isn't replacing underwriters, but helping them make better decisions.

Some of the key findings include:

• 47% believe AI's biggest value today is reducing manual work.
• 36% see faster processes as the key benefit.
• Only 9% believe AI will significantly improve pricing quality.
• Just 14% think AI's greatest value is helping insurers write better business.

These findings suggest the industry is still viewing AI primarily as an administrative assistant. However, the real opportunity lies elsewhere. The next generation of AI will connect people, pricing models, and underwriting data to help insurers prioritise submissions, summarise complex risks, improve decision-making, and enable underwriters to focus on the business that matters most.

If you're shaping your AI strategy, our latest article explores:

• Where AI in insurance is heading
• Which capabilities are likely to create the greatest value
• Why getting the underlying architecture right—not following the hype—will determine long-term success

Download the full article to discover where AI can create the greatest value for insurers.

If you'd like to discuss how these ideas could apply to your organisation, we'd be delighted to chat.