KPMG conducted an extensive research program, interviewing executive leaders across eight key global markets to understand the impact of AI on the insurance industry. The emergence of generative AI, along with the next wave of autonomous and agentic AI systems, is unlocking entirely new possibilities for innovation across the sector. Our research provides a detailed blueprint for insurance organizations to harness AI’s potential value.
AI is transforming the insurance industry
At-a-glance insights:
85% believe that Insurance firms that embrace AI will develop a competitive edge over those who do not
66% expect a moderate to very high ROI
64% face significant pressure from shareholders to show immediate ROI on AI investment
67% will increase the percentage of global budget spent on AI
of which
66% say up to 20 percent.
and
34% say 20 percent plus.
Building trust is a major concern—and priority
46% of leaders have reservations about whether AI can be trusted
while only
25% fully trust AI within their organizations
82% recognize the importance of establishing robust frameworks, policies and processes for regulatory compliance to ensure responsible AI implementation
Leadership goals for AI adoption
How to realize value from your AI transformation journey
To address these challenges, KPMG introduces the three phases of AI value — a framework designed to guide insurers through the AI adoption journey. This phased approach provides a structured roadmap, helping insurers prioritize investments, align initiatives with business goals, and position themselves effectively in the age of AI in insurance. Click on each of the phases below to find out more.
To address these challenges, KPMG introduces the three phases of AI value — a framework designed to guide insurers through the AI adoption journey. This phased approach provides a structured roadmap, helping insurers prioritize investments, align initiatives with business goals, and position themselves effectively in the age of AI in insurance.
Discover more
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Gerasimos Ntouskas
Board Member | Head of Technology Consulting | Chief Digital Officer
KPMG in Cyprus