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As insurance M&A grows, duplicating functions in combined companies, private-equity firms invest in AI insurtech that changes carriers' structures and product distribution, KPMG experts said.
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Junior underwriters can gain support for their work from AI, and data handling to support underwriting improves, said insurance risk management experts from Cytora, Scor and AXA XL.
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This year's 83% adoption rate is up from last year, but trails 2023's high of 92%.
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Analyses show that generally speaking, companies that deploy AI the most are also recruiting more humans.
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Despite growing adoption, research shows that agents and brokers struggle to integrate AI into their daily workflows.
June 29
Advancements in estimating tools are helping insurers deliver faster and seamless digital claims, writes Marc Rothchild, EVP and head of claims at Xceedance.
AI-powered platforms have collapsed the production timeline for a professional TV commercial from weeks to hours. But the agents who are getting real value out of TV advertising right now aren't just putting campaigns out. They're building frameworks for reading what comes back.
Experts in the insurance industry explain where to draw the line, and why sometimes a less capable AI is a more valuable tool.
Magdalena Ramada, global insurtech innovation leader at WTW, spoke with Digital Insurance about the dangers of the hidden nature of AI processes, and becoming overly dependent on the technology.
Sixteen leaders across the insurance industry have been recognized for their leadership and significant contributions to their companies, colleagues and the industry.
Tresa Stephens, North America Allianz commercial regional head of cyber, tech and media, holds over a decade of experience in delivering specialized cyber, tech and professional liability solutions.
Sarah Murrow, president and CEO of Allianz Trade in Americas, shares her career journey in the insurance industry and her approach to acting as an effective leader to a multi-national business.