The rise of artificial intelligence (AI), particularly the advent of generative AI (Gen AI), is transforming various industries. In Ireland, insurance companies are increasingly turning to AI for tasks such as automating claims, assessing risks, personalising products and services, and combating cybercrime. Jean Rea and Brian Morrissey of our Insurance team explain.
Despite these advancements, there is a pressing need to speed up the adoption of AI technology. While AI is being utilised in select areas and pilot projects, insurance companies are not yet leveraging it extensively enough to gain a competitive advantage. Broader adoption of AI could enable businesses to operate more efficiently, adapt more quickly, and develop more advanced models to meet the changing market demands.
So, how can Irish insurers effectively adopt AI and unlock its full potential?
This report aims to assist insurance leadership teams in Ireland in harnessing AI to transform their organisations. It also compiles insights from KPMG professionals and industry leaders from Generali Italia, PassportCard, Prudential, and Zurich Australia, who share their views on maximising the potential of this technology.
