Insurers should leverage AI at every stage of the value chain

Underwriting and hazard profiling remains the country of the security worth concatenation expected to beryllium astir positively impacted by AI, according to a GlobalData canvass of manufacture insiders. However, the proportionality selecting this country declined considerably betwixt Q3 2025 and Q3 2026, portion merchandise improvement recorded a crisp increase. This suggests that perceptions of AI's imaginable are broadening arsenic insurers research applications crossed the wider worth chain.

GlobalData's poll, tally connected Verdict Media sites successful Q3 2026, recovered that 34.4% of respondents judge underwriting and hazard profiling volition beryllium the country astir positively impacted by AI. This was followed by lawsuit work (20.4%), claims absorption (18.3%), merchandise improvement (16.1%), and selling and organisation (10.8%). Compared with Q3 2025, the proportionality selecting underwriting and hazard profiling fell by 11.4 percent points (pp) from 45.8% portion claims absorption declined by 2pp. In contrast, merchandise improvement recorded the largest increase, rising by 8.9pp; successful addition, lawsuit work roseate by 2.8pp portion selling and organisation roseate by 1.6pp.

These results bespeak that the security manufacture is moving beyond viewing AI chiefly arsenic an underwriting tool. Although underwriting remains the starring application, insurers are progressively utilizing AI to analyse lawsuit and marketplace data, place sum gaps, accelerate merchandise design, and make much personalised offerings. The emergence successful merchandise improvement whitethorn besides bespeak increasing competitory unit connected insurers to motorboat products that respond much rapidly to emerging risks and changing lawsuit expectations.

AI is besides becoming much embedded successful lawsuit work done virtual assistants, personalized communications, and faster query resolutions. In claims, the exertion tin enactment fraud detection, harm assessment, papers processing, and colony decisions. However, the flimsy diminution successful respondents selecting claims absorption whitethorn suggest these applications are becoming established, alternatively than being viewed arsenic the country with the top aboriginal impact.

To maximise the worth of AI, insurers should follow a coordinated strategy crossed the full security worth chain, alternatively than focusing concern connected idiosyncratic usage cases. This includes combining AI-driven underwriting with intelligent claims automation, enhanced lawsuit service, and data-led merchandise innovation. Insurers indispensable besides guarantee that AI systems are transparent, fair, and regulatory compliant successful each AI applications to physique spot and semipermanent value.

"Insurers should leverage AI astatine each signifier of the worth chain" was primitively created and published by Life Insurance International, a GlobalData owned brand.