The use of AI in data analytics across all sectors is a gamechanger, and regulations will, it is hoped, maintain controls over how the technology is used so that security and privacy concerns can be addressed safely. Here are some of the way AI is already transforming the way insurers do business:

Enhanced Risk Assessment and Underwriting: The integration of AI into insurance underwriting processes will likely accelerate under the AI Plan. By leveraging advanced machine learning algorithms, insurers can refine risk models, better predict customer behavior, and personalize policies. Government support for data-sharing frameworks and ethical AI will ensure these advancements comply with privacy and security regulations.

Claims Automation and Fraud Detection: AI-driven claims processes are already transforming the insurance industry by reducing settlement times and identifying fraudulent claims. With the UK’s emphasis on encouraging responsible AI use, insurers can expect improved access to tools that enhance claims automation while maintaining fairness and transparency in decision-making.

Improved Customer Experience: AI technologies like chatbots and predictive analytics will play a larger role in customer interactions. The government’s focus on encouraging AI innovation while ensuring ethical deployment will empower insurers to deliver seamless, personalized experiences that align with consumer protection standards.

Regulatory Adaptations: The AI Plan includes developing regulatory frameworks to address AI-related challenges. Insurers will need to navigate these evolving rules, particularly around the explainability of AI decisions, data protection, and bias mitigation. Clearer guidance could reduce compliance risks and increase trust in AI-powered solutions.

New Opportunities in Insurtech Collaboration: The AI Plan’s emphasis on partnerships and innovation hubs may drive collaborations between traditional insurers and InsurTech startups. This could lead to breakthroughs in areas such as dynamic pricing, real-time risk monitoring, and AI-powered health or cyber insurance solutions.

Ethical and Social Considerations: The focus on ethical AI will prompt insurers to address biases in algorithms and ensure inclusivity in policy offerings. Insurers must adopt transparent practices and develop AI systems that enhance fairness while avoiding discriminatory outcomes.

Insurtech Insights spoke to nine global corporations to find out how they are using the technology – and what they strategy is for 2025.

Zurich Insurance Group

Ericson Chan, Group Chief Information and Digital Officer

“At Zurich, AI plays a big role in our strategic initiatives and our 2025-2027 business plan announced at our recent investor day. We have an extensive portfolio of over 200 AI solutions in place and an additional 300 in development, designed to create growth opportunities, boost performance, and simplify the lives of our customers.

Some notable implementations include our ‘Zurich Voice IQ’ solution to support our contact centers to provide excellent and consistent service to our customers, our ‘Zurich Claims IQ’ solution, an AI-powered system for our claims handlers in claims coverage, document verification, and fraud detection, as well as our solution ‘Zurich Agent IQ’ that equips agents and brokers with detailed product and service information.

We also harness the power of GenAI to support our underwriters, enabling more accurate and efficient risk assessments, accelerating the underwriting process, and reducing turnaround times. Our employees also have access to a secure GPT chatbot globally to make their day to day more productive.

As we look ahead, we continue to invest in AI solutions across our value chain to drive business, innovation and elevate customer experiences.”

Cambridge Mobile Telematics

Hari Balakrishnan Professor at MIT EECS/CSAIL and Founder, CTO

Cambridge Mobile Telematics (CMT) leverages artificial intelligence (AI) across its telematics ecosystem to enhance safety, engagement, and driving insights.

CMT’s platform collects data from smartphones, IoT devices, and cars and applies machine learning, deep learning, and graphical neural networks to analyze driver behavior and vehicle dynamics. These insights power CMT’s DriveWell products, enabling accurate risk assessment, crash detection, and personalized driver feedback.

CMT’s AI-first approach includes sophisticated systems for driver identification that enable precise attribution of driving behaviors and advanced crash detection models that analyze real-time data. Its crash models leverage the same methodologies as generative AI, ensuring unparalleled precision in detecting and validating crashes. AI also powers distracted driving detection, identifying patterns like tapping or phone handling with high accuracy, and integrates these patterns with diverse datasets to measure risk. CMT’s AI-driven insights help insurers and drivers reduce risks, improve outcomes, and transform mobility experiences.

AXA UK

Paul Hollands Chief Data and Analytics Officer at AXA UK & Ireland 

“At AXA UK, we recognise that AI presents a huge opportunity both to improve our products and services and to allow our colleagues to focus on more complex tasks. This is why we are investing in data and the digital transformation of our business, so we can better meet the evolving needs of our customers.”

We use AI and machine learning tools across all our business units and operations including pricing, underwriting, claims and fraud, helping us to more effectively identify and minimise risks to which our customers may be exposed.

While we appreciate the benefits of AI, we take a cautious approach to implementing any new tools and have created an AI framework to ensure we use AI in a responsible manner.

We are now actively deploying GenAI solutions – rapidly scaling use cases that can help us accelerate time-intensive manual processes and improve accuracy and consistency while maintaining a personal engagement with our customers.” 

SOLERA

John Suchecki,  Chief Information & Technology Officer

Solera leverages AI to transform the automotive insurance and collision repair industries by streamlining processes, enhancing accuracy, and driving operational efficiency. Its AI-driven solutions optimise claims management, enabling insurers to quickly assess damage via automated image recognition and predictive analytics.

By integrating machine learning, Solera processes vast amounts of data to generate precise repair estimates, reduce repair times and increase customer satisfaction with the insurer. AI also plays a critical role in fraud detection, using pattern recognition to identify anomalies in claims, protecting both insurers and policyholders.

In addition, Solera employs AI to improve fleet management by analysing telematics data to predict maintenance needs and optimise performance.

Through its innovative applications, Solera’s AI technology not only accelerates decision-making but also introduces environmentally sustainable practices by minimising waste and promoting smarter resource utilisation, reinforcing its commitment to reshaping the future of the automotive industry.

MAPFRE

Maribel Solanas, Group Chief Data Officer

MAPFRE has identified over 200 AI use cases, with over 90 already in active application and has more than 75 Generative AI use cases under study with multiple applications. 

Maribel Solanas, Group Chief Data Officer, said: “Primarily, our focus with AI lies in enhancing customer experiences, giving our clients shortened response times, and improving our overall service. However, we’re also streamlining insurance management itself through solutions that automate processes while maintaining our competitive edge and our responsible AI approach. For us, AI is a tool to enhance our internal talent, enabling individuals to focus on activities that truly matter to them and our clients.

“We are therefore using AI in areas such as automatic claims processing, vehicle verification for sale and purchase, and advanced utilisation of data for risk assessment in policy granting, among others. Every project is developed with human-centric control and security by design according to regulations and our internal control policy.”

Munich Re Life US

Marc Giguere, President & CEO, Munich Re Life US

At Munich Re Life US, a subsidiary of Munich Re Group, digital solutions play a vital role in the organisation’s mission to innovate and transform the insurance landscape, says President & CEO, Munich Re Life US – Marc Giguere.

“As a leading US reinsurer, we leverage emerging technologies to improve operational efficiency, enhance underwriting processes, and expand insurance accessibility. Our Integrated Analytics team continually adapts technological advancements to meet market needs, employing AI tools including machine learning and natural language processing. 

Leveraging the power of AI and data-driven solutions, Munich Re supports carriers as they streamline underwriting processes, expand insurance accessibility, and enhance claims analysis. For instance, our alitheia platform accelerates the underwriting lifecycle through proprietary models and medical ontology technologies. Additionally, our Automated EHR Summarizer helps to facilitate faster and more accurate risk assessments by expertly managing data extraction and summarization of electronic health records (EHRs). 

Some clients are early adopters of these tools while others take a more cautious approach. As a reinsurer, we know we have the vantage point and ability to offer unique insights and we aim to listen to each carrier about their challenges so we can be a partner to them, wherever they are along the digital transformation continuum. 

By embracing digital innovation, Munich Re is poised to continue driving growth and supporting its clients in the ever-evolving insurance landscape. Our global suite of life digital solutions underscores the company’s dedication to harnessing technology to propel the industry forward.”

Swiss Re

Pravina Ladva – Group Chief Digital & Technology Officer

Combining human and AI processes to get the best results from the technology, is essential, says Pravina Ladva, Swiss Re’s Group Chief Digital & Technology Officer .

“AI has indeed the potential to free up substantial time which can be used for other creative and more value-adding tasks. To make the most use of these new tools, it’s crucial to continuously upskill the users so they are empowered to reap the full benefits of this cutting-edge technology. 

At Swiss Re, we believe that the real benefit of AI is not the technology itself but the smart combination of both AI models and human processes. To build trust in the digital world, it’s key to transparently explain to stakeholders how AI is used. It’s crucial to understand what AI is because it’s more than just a tool – it requires a comprehensive strategy to ensure it’s trustworthy and beneficial for society at large.”

Beazley

CEO, Adrian Cox

According to leading specialist insurer Beazley, using AI, in particular Generative AI, will enrich the work of its teams by enabling the simplification of manual processes, improve decision-making and ultimately improve product and service offerings to brokers and clients.

Beazley is continuing to expand its use of AI, including piloting Generative AI in several areas of business, to help improve speed, accuracy and to reduce risk. The pilots show that with less manual effort, and better analysis for making complex decisions, AI will improve the experience of working across its lines of business.

Benefits of using Generative AI to Beazley include:  

• Reading, summarising and extracting data for underwriting and claim submissions initially
• Faster and more effective decision-making
•  Simplifying processes which will also allow businesses to scale with less friction and pressure on teams and operations and reduce administrative burdens

 Improving ability to grow, as the technology takes up the operational strain that an expanding business has historically created.

Majesco

Chief Strategy Office, Denise Garth

“Majesco leads the way in harnessing the capabilities of GenAI with the embedding of Majesco Copilot, the industry’s first and only GenAI solution, across all our solutions. This pioneering technology sets a new standard in insurance product and solution development, providing insurers with a sustained competitive edge.

In Majesco’s most recent Strategic Priorities research, 84% of respondents expect to use Copilot daily while 70% of users said that once they used Intelligent Core, they didn’t want to give it up. From enhancing operational efficiency, enhancing productivity, improving user experiences, and delivering cost-effective solutions, Majesco Copilot creates a significant leap forward for insurance business operations. The adaptability and learning capabilities of GenAI equip our customers with unprecedented insights and guidance that will power the business operational and transformation demands to unprecedented heights.”