Recent research reveals a significant trend in the insurance industry: 80% of insurers are either exploring or currently implementing AI solutions. This shift highlights a growing recognition of AI’s potential to enhance various aspects of insurance operations.
Meanwhile, the study indicates that over 75% of insurtech companies have successfully integrated AI into their live products. This marks a substantial commitment to leveraging technology for improving customer experiences and operational efficiencies.
While the study didn't specify individual companies, it showcases a general movement within both traditional and new players in the insurance sector. Established insurers are eager to keep pace with the nimble insurtech scene, indicating healthy competition and innovation in the market.
The widespread adoption of AI could lead to more optimized underwriting processes, enhanced fraud detection, and better customer service. As both insurers and insurtechs capitalize on these innovations, policyholders might experience faster claims processing and more tailored insurance solutions.
This trend towards AI integration suggests that the insurance sector is poised for transformation. Stakeholders across the board should prepare for a more tech-driven future where data analysis and machine learning play crucial roles in decision-making.
Overall, this report illustrates a clear signal that AI is becoming a core element of strategies in both traditional insurance and the newer insurtech landscape. Agility and adaptation will likely define success in this evolving marketplace.
Original Source: https://www.rte.ie/news/business/2025/0731/1526248-ai-in-insurance-sector/