The property reinsurance industry is starting to look into how artificial intelligence (AI) can improve risk assessment and pricing strategies. This shift comes amid ongoing challenges such as the overuse of trendy terms and a decline in global funding for property and casualty insurtechs.
Key players in the reinsurance sector are emphasizing the potential of AI technologies to streamline operations and enhance decision-making processes. While specific companies are not named in the announcement, it’s clear that the industry at large sees value in harnessing these advanced tools.
AI could play a significant role in refining risk selection and driving more precise pricing models. By analyzing vast amounts of data, these technologies could help reinsurers better understand and predict risks, ultimately leading to more informed decisions.
However, some roadblocks remain. The industry is facing criticism for the potential misuse of AI-related buzzwords, which can lead to skepticism over genuine innovations. Additionally, the downturn in global insurtech funding might hinder broader adoption and investment in AI solutions.
Even with these challenges, the movement towards incorporating AI into property reinsurance signals a recognition of its potential benefits. The industry appears ready to navigate these complexities as it seeks to modernize its practices.
As developments continue, it will be interesting to observe how these technological advancements unfold and the impact they will have on the market.
Original Source: https://www.theinsurer.com/ti/reinsurancemonth/property-reinsurers-begin-to-harness-ai-opportunities-2025-09-10/