AI Readiness in Insurance

AI projects that achieve true, measurable transformation can be extremely challenging to execute.

AI was a topic of conversation all through 2023, with significant engagement going toward ChatGPT and the larger topic of generative technologies. The benefits of using AI in the insurance industry have become clear: improved time to market, increased business and IT agility and flexibility, business efficiency, and positioning for the future. These benefits can lead to improved employee, agent, and customer satisfaction.

This report provides an important view of where insurers think they are in terms of AI readiness, gives insights into how insurers can prepare to support advanced AI capabilities, and outlines an AI readiness framework that insurers should consider as they begin or engage in AI projects. It is based on a study that Datos Insights launched in Q3 2023 to a group of L/A/B and P/C insurers about their self-assessment of AI readiness.

Clients of Datos Insights’ Life, Annuities, & Benefits and Property & Casualty services can download this report.

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