Emerging Technology for L/A/B Insurers 2022: Artificial Intelligence, Chatbots, Cloud Computing, Unstructured Data, and More

It’s crucial for insurers to understand the potential applications of innovative technology and to have a sense of where their competitors are exploring and investing.  

April 7, 2022 –Technology is both an enabler and a disruptor in the insurance vertical. Emerging technologies can help insurers to sell more, manage risk better, or improve efficiency, but they can also threaten disaggregation or create new ways of doing business insurers must address.

This Impact Report is designed to help insurers track adoption rates, planned pilot activity, and use cases across nearly a dozen relatively new technology areas. This report is based on a survey of 28 insurer CIO members of the Aite-Novarica Group Insurance Technology Research Council conducted in Q4 2021, representing a broad cross-section of L/A/B insurers. Seventeen participants represented larger insurers with annual written premium greater than US$1 billion, while 11 represented midsize insurers with annual written premium less than US$1 billion.

This 23-page Impact Report contains 15 figures. Clients of Aite-Novarica Group’s Life, Annuities, & Benefits service can download this report and the corresponding charts.

This report mentions Allianz, AXA, John Hancock, and Progressive.

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