We are pleased to share that the Unlocking AI in insurance: A leader’s guide to AI-enabled transformation report is now available.
It brings together insights from insurance leaders globally, highlighting how leading organisations are transforming the industry to keep pace with rapid technological change and customer expectations.
The challenge is building the data, governance, and operating model needed to deploy AI with confidence and at scale. The leaders of tomorrow will be those who invest in trusted, accessible, and well-governed data.
By strengthening data quality and readiness now, insurers can move beyond efficiency gains to transform underwriting, claims, distribution, finance, and customer engagement.
In an AI-enabled future, insurers that get their data right will be best positioned to realise its full potential. Despite this, the broader insurance industry picture remains uneven. As this report reveals, 77 percent of insurance executives we surveyed believe that failing to respond to AI will undermine competitiveness within five years.
At the same time, 71 percent say they primarily use AI for content generation or automating routine tasks, and nearly half of AI budgets are being directed toward operational and back-office efficiency, compared with just 5 to 10 percent toward new products or revenue-generating opportunities.
That disconnect is the heart of the challenge. Insurers are investing, experimenting and scaling use cases. But many are still working through a more difficult question:
How will AI change the kind of insurer they need to become?
Have questions on the report or data?
We are happy to set up a call to walk you through the report in more detail and explore how KPMG can support your business goals.
Whether it’s unpacking the insights or identifying opportunities, we're here to help.
Partner, Head of AI & Velocity, Head of Banking & Capital Markets, Global Lead for Financial Services Cost Transformation
KPMG in Ireland
