The study, which surveyed 200 senior insurance industry leaders, found that 79% of respondents identified risk digitisation—including new business, renewals, claims, and mid-term adjustments (MTAs)—as their top investment focus over the next two years. This priority ranked above other technologies such as CAT models, CRM systems, and policy administration platforms.
The survey underscores the growing demand for streamlined processes, automation, and advanced analytics within the insurance sector. Among the key advantages of risk intake digitisation cited by respondents were revenue growth (22%), the ability to process higher transaction volumes (19%), and improved service for brokers and customers (17%). However, manual extraction of data from risk intake documents was identified as the biggest inefficiency, with 62% of industry leaders flagging it as a significant challenge. Other concerns included inconsistent risk processing workflows (55%) and a lack of unified data flow (52%).
The survey also reveals increasing financial commitment to AI initiatives. 26% of respondents reported investing at least £500,000 in AI over the past year, while 11% stated they had spent over £1 million. Looking ahead to 2025, 28% expect to invest at least £500,000, with 17% anticipating spending £1 million or more. The findings also highlight the strategic benefits of AI initiatives for insurers, with 59% of respondents citing increased efficiency as the primary advantage, followed by improved customer and broker satisfaction (44%), more connected systems and data integration (41%), and better risk assessment (35%).
Risk digitisation is also reshaping employee roles, with 67% of respondents reporting increased productivity, 65% citing higher talent retention and attraction, and 60% recognising opportunities for upskilling. Additionally, 57% of respondents noted an improvement in employee morale as insurers integrate AI into risk workflows.
Richard Hartley, CEO of Cytora, emphasised the strategic importance of risk digitisation, stating: “The message from the survey is clear: risk digitisation is a top board-level priority for the commercial insurance industry. Insurers that effectively harness and scale AI to digitise risk workflows will have an enduring and growing advantage. Risk digitisation unlocks the path to a zero marginal cost operating model, progressively decoupling premium growth from expense growth and reinforcing decision-advantage.”
The survey was conducted online between February 24 and March 5, 2025, and included C-suite executives, directors, and senior managers from leading global insurance firms. The results demonstrate a clear shift toward AI-driven transformation in commercial insurance, with risk digitisation emerging as the key driver of operational efficiency, customer satisfaction, and business growth in the years ahead.
