Intelligentinsurance

Ablueprintforcreatingvaluethrough

AI-driventransformation

KPMG.MaketheDifference.

KPMGInternational

/intelligentinsurance

Foreword

4Ataglance

0

05Introduction

08Researchfindings

11Buildingtheintelligentinsurer

16Firstphase:Enable

21Secondphase:Embed

26Thirdphase:Evolve

28Keyconsiderations

32Methodology

33KPMG:GuidingyourAItransformationwithexperienceandtrust

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?2025CopyrightownedbyoneormoreoftheKPMGInternationalentities.KPMGInternationalentitiesprovidenoservicestoclients.Allrightsreserved.Intelligentinsurance:AblueprintforcreatingvaluethroughAI-driventransformation|3

Buildingtheintelligentinsurer

Firstphase

Foreword

Ataglance

Introduction

Researchfindings

Secondphase

Thirdphase

Keyconsiderations

GuidingyourAItransformation

Methodology

Foreword

AIhasbeenapartoftheinsuranceindustryfor

sometime,butitsadoptionvariessignificantly

basedoninsurancetype,geographyandthe

distinctionbetweenlegacyinsurersandinsurtechdisruptors.TheemergenceofgenerativeAI,alongwiththenextwaveofautonomousandagenticAIsystems,isunlockingentirelynewpossibilitiesforinnovationacrossthesector.

However,whilesomeinsurersaredoublingdownonAIinvestmenttodrivecompetitiveadvantage,othersremaincautious,eitherduetoregulatoryconcerns,legacy

constraints,oruncertaintyaboutAI’slong-termimpact

ontheirbusinessmodels.ThisgrowingdividebetweenAIleadersandmoreconservativeadopterswillshapethefuturetrajectoryofAI-driventransformationininsurance.

AIadoptioninlifeandnon-lifeinsuranceforexample

differsconsiderably.Non-lifeinsurers,dealingwithhigh-frequencyclaimsinareaslikeautoandhomeinsurance,havebeenusingAIprimarilyfor“backoffice”functionssuchasfrauddetection,real-timeriskassessment,

automatedclaimsprocessinganddynamicpricing.

Theirfocusisonspeedandoperationalefficiency,usingstructuredexternaldatasuchastelematics,Internetofthings(IoT)andgeospatialriskanalysis.

Incontrast,lifeinsurersmanaginglong-termrisksrely

onbiometric,medicalandbehavioraldatatoassess

longevityandmorbidity.AIisrevolutionizingtheir

underwritingprocessesbyautomatingrisksegmentation,integratingelectronichealthrecordsandutilizingpredictiveanalyticstorefinepolicypricingandassessment.Life

insurersareintegratingwearabledataandwellnesstrackingtopersonalizepolicypricing,rewardinghealthybehaviors.

AIisalsoimprovingclaimsautomationbyidentifying

fraud,analyzingdeathcertificatesandstreamlining

payoutsthroughmachinelearning.Beyondunderwritingandclaims,AIistransforminglongevitymodelingand

regulatorycomplianceinlifeinsurance.Predictive

analyticspoweredbyAIcanassesslifeexpectancy,

detectdiseaseonsetandoptimizeriskstratification,

enablinginsurerstorefinepricingandpayoutstructures.

However,thesesolutionsareoftendevelopedtosolveaspecificproblem,butthereisanopportunitytoquicklyadjustforwideruseacrossthevaluechain.GenAIandautonomousagentscouldempowerorganizationsto

enhanceactuarialmodels,deliverpersonalizedinsurancecoverorevenincreasethepaceofinsuranceclaims.

Butthiswilllikelyrequireanenterprise-wideview,breakingdownorganizationalsilosandusingAItomonitorandmitigateitsownrisks.

TheinsurersthatembracethesechallengescanbefirsttounlockAI’stransformativepotential.

AIismorethanatechnologyinvestmentforinsurers—itisatransformative

catalystforredefiningstrategy,cultureandoperations.Tofullyunlockits

potential,insurersmustovercomeinertia,embraceitspossibilitiesandembedAIasacoredriverofcustomer-centricandsustainablegrowth.99

FrankPfaffenzeller

GlobalHeadofInsuranceKPMGInternational

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Ataglance

AIisimprovingcustomerexperience

sayAIis

centraltoproducts

andserviceofferings

57%

believethatinsurersthatembraceAIwilldevelopacompetitiveedgeoverthosewhodonot

expectamoderatetoveryhighROI

Insurershavehighexpectations

85%

66%

ButthepressureisontoproveROI

64%

facesignificantpressurefrom

shareholderstoshowimmediateROIonAI

investment

AIspendingwillincreasesignificantly

67%

sayupto20percent

66%

Ofwhich

and

willincreasethe

percentageofglobalbudgetspentonAI

20percentplus

34%

say

AIgoalsareclear

62%

are

seekingtoimproveefficiency

74%

are

seekinggrowth

Thebenefitsareflowingthrough

have

improvedefficiency

66%

76%

haveseenamoderatetoveryhighROIfromtheirinvestmentssofar

Ataglance

Introduction

Buildingtheintelligentinsurer

Firstphase

Researchfindings

Secondphase

Thirdphase

Keyconsiderations

GuidingyourAItransformation

Foreword

Methodology

Source:Intelligentinsurance:AblueprintforcreatingvaluethroughAI-driventransformation,KPMGInternational,2025

?2025CopyrightownedbyoneormoreoftheKPMGInternationalentities.KPMGInternationalentitiesprovidenoservicestoclients.Allrightsreserved.Intelligentinsurance:AblueprintforcreatingvaluethroughAI-driventransformation|5

Ataglance

Introduction

Researchfindings

Buildingtheintelligentinsurer

Firstphase

Secondphase

Thirdphase

Keyconsiderations

GuidingyourAItransformation

Foreword

Methodology

Introduction

Theriseofagentic,autonomousAIagents

representsafundamentalshiftinhowinsurancecompanieswilloperate,interactwithcustomersandmanagerisk.UnliketraditionalAI,which

primarilyenhancesefficiencythroughautomationandanalytics,thesenext-generationagentscanindependentlymakedecisions,executecomplextasksandcontinuouslylearnfrominteractions.

Ininsurance,thismeanspoliciesthatdynamicallyadjustbasedonreal-timeriskfactors,claimsthatareprocessedandsettledinstantlywithouthumanintervention,and

customerservicethatishyper-personalized,context-awareandavailable24/7.

Thepotentialextendsbeyondoperational

improvements—agenticAIcanredefineentirebusinessmodels,enablinginsurerstoproactivelymitigaterisk,

optimizepricingdynamicallyandprovideunprecedentedlevelsofcustomerengagement.

Thesesystemsdemandvast,high-qualitydatainputs,

meaninginsurersmustinvestinseamlessdata

integration,real-timeanalyticsandethicalAIgovernance.

However,ourresearchfindsthatinsurersarestill

grapplingwithlegacyoperatingmodels,technicaldebtandlinearworkflows,whichareill-equippedtohandlethedynamicnatureofAIinnovation.Dataisfragmentedandoftenlockedinfunctionalspecificsystems.Rigid

hierarchiesandsiloedfunctionscreatechokepointsthatimpedecross-functionalcollaboration,slow

decision-makingandlimitagility.

Concernsabouttherapidpaceoftechnology

developmentandcautionovertheAI-specificrisksarecausinghesitancy:75percentofinsuranceexecutivesinoursurveyareconcernedthatinvestmentstheymakenowmayberenderedobsoleteinthenearfuture.

Insurersarealsohesitatingwhenitcomestobuildorbuydecisionsandworriedthatavendormayreleaseabetterversion.

Whencoupledwithconcernsovertheunknownrisks,AIleadersareunsurewhereandwhentofocustheirinvestments.

75%

ofinsuranceexecutivesare

concernedthatinvestments

theymakenowmayberenderedobsoleteinthenearfuture

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Buildingtheintelligentinsurer

Firstphase

Secondphase

Thirdphase

Keyconsiderations

GuidingyourAItransformation

Foreword

Methodology

Ataglance

Introduction

Researchfindings

Figure1:Dataconcernsandlackofskillsemergeastopchallenges

PercentagewhosaytheirorganizationhasfacedthefollowingchallengeswhenintegratingAI

SecurityanddataprivacyconcernsDatasilos

LackofAIskillsorexpertiseamongworkforce

EmployeeresistancetochangeandreluctancetouseAItools

BudgetrestrictionsorlackofinvestmentInconsistentdataformats

Lackofcommunicationandalignmentbetweendepartments

Timeandresourceconstraints

Legalorregulatoryconstraints LackofleadershipsupportandunderstandingLackofleadershipcommunicationandalignment

PoordataqualityEthicalrisks

Dif?cultyinmeasuringreturnoninvestment(ROI)

OneoftheconsiderationsorchallengeshasbeenthatAI

technologiesareinvariably

different.So,tryingtonarrowdownonwhichonewemightwanttouse,orwhichtwowemightwanttouseinthefutureismorechallengingthanwe

expected.99

Director—Australia

34%

33%

30%

28%

26%

25%

25%

25%

23%

23%

22%

21%

20%

19%

WhatchallengeshasyourorganizationfacedwhenintegratingAI?(Maximum5)n=183

Source:Intelligentinsurance:AblueprintforcreatingvaluethroughAI-driventransformation,KPMGInternational,2025

?2025CopyrightownedbyoneormoreoftheKPMGInternationalentities.KPMGInternationalentitiesprovidenoservicestoclients.Allrightsreserved.Intelligentinsurance:AblueprintforcreatingvaluethroughAI-driventransformation|7

Buildingtheintelligentinsurer

Firstphase

Secondphase

Thirdphase

Keyconsiderations

GuidingyourAItransformation

Foreword

Methodology

Ataglance

Introduction

Researchfindings

InsuranceexecutivesworryaboutprematureAIinvestmentsamidrapidtechnologicalchange.Herearefourkeyconsiderationstoguideno-regretsactions,helpinginsurersbuildflexibilityandresponsivenesstoadapttoanAIfuture:

DesignanAIstrategythatalignswithcorecompetenciesand

unlocksvalue

Insurersshouldestablishaboldvisionfor

AIthatalignswiththeircorestrengths.

Thisvisionshouldguideadisruptive

transformationroadmapthatredefineshowAIdrivesgrowthandinnovationwhileholdingteamsaccountableforresults.AligningAI

deploymentswithstrategicgoals—suchasimprovingfrauddetection,streamliningunderwritingandenhancingcustomer

personalization—canhelpmaximizeROI.

Buildtrustintothe

transformationroadmap

AIininsuranceintroducesuniquerisksthatcanunderminetrust,meaning

proactiveriskmanagementiscritical

fromtheoutset.Insurersshouldaddressdataprivacyandsecuritychallenges,

helpingensurecompliancewithfinancialregulationswhileprotectingsensitive

customerinformation.

Combattingalgorithmicbiasand

adoptingexplainableAIsystemsthatregulators,customersandinternal

stakeholderscantrustarecritical.

CreatesustainabletechnologyanddatainfrastructureforAIadoption

Dataisacriticalstrategicassetand

thefoundationforallAIinitiatives.

Insurersshouldbuildarobustdata

governanceframework,focusingon

quality,integrationandsecurity,whilealsocreatingafoundationforlong-termscalability.Thisincludesinvesting

inenterprise-gradeAIinfrastructure

thatcansupporthighvolumesof

transactions,complexriskmodelsandreal-timedecision-making.

BuildaculturethatusesAItouplifthumanpotential

Amultifacetedtalentstrategythat

balancesretentionwithupskillingshouldbeakeypriority.Academicinstitutions,fintechstartupsandinnovationhubscaninjectfreshperspectivesandenhance

workforcecapabilities.ImmersiveAI

trainingprogramshelptodriveinnovationincustomerexperiencesandoperationalmodels,diversifyhiringpipelinesand

enabletransformativeoutcomes.

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Ataglance

Secondphase

Thirdphase

Keyconsiderations

GuidingyourAItransformation

Foreword

Methodology

Introduction

Researchfindings

Buildingtheintelligentinsurer

Firstphase

Researchfindings

Currentstate

Insuranceisanindustryintransition.Historicinvestmentsindigital

transformationarenowbeingupdatedtoincorporateAI,butdatafragmentationcausedbylegacyoperatingmodelsisinhibitingprogress.

Organizationalmodelsareintransition

Insurancecompaniesarechangingtomorecustomer-centricmodels,butprogress

remainsuneven.Thirty-eightpercentarestillorganizedbyindependentfunctionswithclearboundaries,while44percentareexperimentingwithhybridmodelssuchas

functional-agilecombinations.

Technologyinfrastructureintransitionisevolving

Mostinsurersarestillonthejourneytomodernizingtheirtechnology.While60percenthavepartiallymodernizedtheirsystemswithcloudcapabilities,only18percenthave

achievedafullycloud-basedinfrastructure.

Wehavelegacyinfrastructureandapplications.Wehavesilosandweneedtodomoreworkwithourdatatoensureitiscleanandaccurate.99

ChiefInformationOfficer,LargeInsuranceCompany,UK

OperatingmodelsinhibitconsistentAIimplementation

OperatingmodelsoftenhindertheconsistentalignmentofAIinitiativeswithbusinessgoals.Only23percentofinsurersreportoperatingmodelsthateffectivelyalignAI

withstrategicobjectives,whilejust24percentcanachievecross-functionalalignmentonAIprojects.Furthermore,only30percentconsistentlyintegrateworkflowsacrossdepartments,creatingsilosthatslowprogress.

On-premisestechnologystilldominates

Despitethepushtowardmodernization,59percentofinsurersrelyonon-premisesAIsolutionsand55percentaredevelopingcustomizedAItoolsin-house.Whiletheseapproachesoffercontrol,theymaylacktheflexibilityneededforscalingAItomeet

futuredemands.

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Ataglance

Secondphase

Thirdphase

Keyconsiderations

GuidingyourAItransformation

Foreword

Methodology

Introduction

Researchfindings

Buildingtheintelligentinsurer

Firstphase

Barrierstoprogress

Formanyinsuranceleaders,theprimaryconcernis

whetherregulatoryframeworksandriskmanagementpracticescanevolvequicklyenoughtokeeppacewithadvancingtechnology.

Buildingtrustisamajorconcern—andpriority

TrustinAIremainsasignificanthurdleforinsurers.

Forty-sixpercentofleadershavereservationsaboutwhetherAIcanbetrustedwhileonly25percentfullytrustAIwithintheirorganizations.Eighty-twopercentrecognizetheimportanceofestablishingrobust

frameworks,policiesandprocessesforregulatory

compliancetoensureresponsibleAIimplementation.

TheAIvisionisstillbeingformed

WhileAIisagrowingpriority,alignmenttoaclear,

strategicvisionremainsincomplete.Sixty-twopercentofinsurersareonlypartiallyalignedtoanAIvision,andjust19percenthaveafullyintegratedplanlinkingAItogoalsatalllevels.

Linksarebeingmadetosynergistictechnologies

Encouragingly,insurersareleveragingsynergistic

Ithinkit’stheethicsofit,theaccountabilitypiece,understandingAI—thevisibilityandtransparencyofwhatyourAIisdoing…

Whenitgoeswrong,ahumanneedstobeaccountable.Therefore,Ithinkleadersneedtounderstandethicsalotmore.99

ChiefTechnologyOfficer—UK

technologiestoenhanceAI’simpact.Fifty-seven

percenthaveintegratedAIwithRoboticProcess

Automation(RPA),and58percenthavedataanalyticsplatformswithAIcapabilities.

AIisimpactingkeyfunctions

Evenwithlimitedimplementation,AIisbeginningtodeliversignificantbenefitsacrosscriticalfunctions.Fifty-ninepercentofinsurersreportatransformativeimpactonoperations,while58percentsee

improvementsininformationtechnology(IT),supplychainandlogistics.

StaffeducationonAI

Staffeducationremainsfoundational,with61percentofemployeesreceivingAItrainingfocusedmainlyonbasicawareness.However,only23percenthaveundergonein-depth,comprehensivetraining,highlightinganeedformorerobustlearningprogramstoequipemployeesforadvancedAIapplications.

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Keyconsiderations

Ataglance

Secondphase

Thirdphase

GuidingyourAItransformation

Foreword

Methodology

Introduction

Researchfindings

Buildingtheintelligentinsurer

Firstphase

Movingforward

ThesestatisticshighlightthecomplexchallengesinsurersfaceastheynavigateAIadoption.Despiteeffortsto

implementAI,thefragmentedstrategiesandlimitedreadinessillustratestheneedforamorestructuredapproach.

Ourresearchrevealsthatmanyrespondentsbelieve

theyarefurtheralongintheirAIjourneythantheiractualmaturitylevelsindicate.Thisdisconnectarisesfrom

beingintheearlystagesofimplementation,where

initialgainsmaskthebroadertransformativepotential

Datareadinessremainsachallenge

Datamanagementcontinuestobeacriticalbarrier

toscalingAIininsurance.Seventy-twopercentof

Youhaveoutdatedlegacysystemsand

whatisimportant,youalsohavedatadrift.Whatisdatadrift?Youhavesilos,andeverysilohasitsowndatabase.Anddatabases

aren’tconnectedtoeachother.Everytimethedataisupdated,wehavedatadrift.99

HeadofStrategy—Germany

insurersidentifydataastheirprimarychallenge,with

only34percentachievingsystem-leveldataintegration.Furthermore,just13percenthaveadatawarehouse

withreal-timeupdates,andonly7percenthavefully

automateddataintegration,highlightingsignificantgapsindatareadinessforAIinitiatives.

Thereisaconflictwithsustainabilitycommitments

ofAIacrosstheindustry.Tohelpinsurersaccurately

assesstheirpositionintheAIdevelopmentcycleand

effectivelyprioritizeinitiatives,weintroducethethree

phasesoftheAIValueframework:Enablepeople,EmbedAIinworkandEvolvetheenterprisetohelpinsurers

movefromfoundationalcapabilitiestoenterprise-widetransformationandecosysteminnovation.By

addressingthesebarriersprogressively,insurerscan

unlockAI’stransformativepotentialwhilemitigating

risks.ThisframeworkhelpsensurethatAIbecomesasustainableandstrategicenablerforlong-termgrowth,competitivenessandresilience.

TheenergydemandsofAIarecreatingtensionwith

insurers’sustainabilitygoals.Seventy-twopercent

struggletobalanceAI’sincreasedenergyusagewith

sustainabilitycommitments,and75percentviewmeetingsustainabilityobjectivesasahigherstrategicimperativethanimplementingAI.However,79percenthaveplanstomitigateAI’senergydemands,signalingawarenessandaproactiveapproachtoaddressingit.

Therapidevolutionoftechnologyfuelsinertia

TherapidpaceofAIdevelopmentiscreatinguncertaintyamonginsurers,with75percentpreferringtowaitfor

theAIlandscapetostabilizebeforemakingsignificant

investments.Additionally,58percentfeeloverwhelmedbythevolumeofAI-relatedinformationandhype,and

56percentexpressconcernsaboutthelevelofcontrolAItechnologyprovidersmightexertovertheirbusiness.

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Foreword

Ataglance

Introduction

Researchfindings

Buildingtheintelligentinsurer

Firstphase

Secondphase

Thirdphase

Keyconsiderations

Methodology

GuidingyourAItransformation

Buildingtheintelligentinsurer

Insurershavesteadilytransformedtheiroperationswithtechnologieslikedigitalplatforms,cloudcomputingandagilemethodologies,integratingAIwithnewtechnologieslikeroboticsandIoT.Now,newAItechnologiesandincreased

regulatoryscrutinyarefurthertransformingtheindustry.Thesetrendsdemandthatinsurersnavigateanenvironmentwhereinvestingintechnological

innovationwhilemaintainingcomplianceiscritical.

SuccessfullyimplementingAIinanorganizationinvolvesastrategicapproachto

buildingcapabilityacrossfoundational,functionalandenterpriselayers.EstablishingatransformationmanagementofficeisalsocrucialforaligningAIstrategy,value

orchestrationandprojectdeliveryacrossalllayers.Thebodycoordinatesinitiatives,establishesstandardsandbestpractices,andfacilitatescross-functionalcollaborationtodriveaccountabilityandenterprise-widevalue.

Enterprise

Thislayerorchestratestransformationalchangeofthewhole

enterprise,startingwithhowAIcanadjuststrategy,businessmodelsandkeyobjectivesfortheenterprise.Itdefinesenterprise-wide

operatingmodelshifts,workforceevolutionandrisksandcontrols.

ThislayerprioritizesAItransformationinitiativesintoaroadmapandrunsatransformationofficetohelpmanagefunding,trackbenefits

andadjustprioritiesdynamicallytohelpmaximizethevaluedelivered.

Functions

ThislayerdrivesAI-enabledtransformationacrossbusinessfunctions,prioritizingcustomer-facingvaluestreamsandend-to-endenabling

processesandworkflows,whichenhancetheflowofvaluesuch

asunderwriting,claimsprocessing,frauddetectionandcustomer

engagement.AIapplications,agentsandroboticsareembeddedintheworkflows.Functionaloperatingmodelchangesaredeliveredtorealizepotentialbenefits.

Foundations

ThislayerestablishestheAI-firsttechnologystack,including

infrastructure,cloudandchoicesonchips.High-qualityenterprisedata

needstobecurated,anddiversemodelsarelikelytobedeployedto

handledomain-specificAI.AnincreasedfocusoncybersecurityforAIis

neededaswellasaplanforotheremergingtechnology,suchasquantum.

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Ataglance

Introduction

Secondphase

Thirdphase

Keyconsiderations

GuidingyourAItransformation

Foreword

Methodology

Researchfindings

Buildingtheintelligentinsurer

Firstphase

ofcustomerdata,suchaslifestylepreferences,

behaviorsandriskprofiles,allowingthemtodesignandadjustproductsondemand,improvingrelevanceand

responsiveness.Thisflexibilitywillreplacethetraditionalone-size-fits-allapproach,deliveringsuperiorcustomervalueandfosteringloyalty.

Simultaneously,insurerswillevolvefrombeingprimarilyproductprovidersworkingthroughdistributionpartners,suchasbrokersandagents,tobecomingintegral

playersinlarger,connectedecosystems.Inthisnewrole,theycancollaborateseamlesslywithecosystempartnersacrossindustries—healthcare,mobility,

retailandbeyond—co-creatingsolutionsthataddresscomprehensivecustomerneeds.

OursurveyfoundthatthepathtovalueinAIisuneven

acrosstheorganization,withinnovationinsomeareas

beingeasierormoreworthwhiletopursuethaninothers.Forexample,someareasofthesameorganizationwill

focusonfoundationalefficiencies(thefirstphase),otherfunctionsorvaluestreamsmaybescalingAIforgrowth(thesecondphase),andafewmayevenbeexploring

transformativeopportunitieswithinecosystems(thethirdphase).Infact,whilenoinsurerwesurveyedhasfully

achievedthethirdphasematurity,13percentofsectorleadersreportundertakingactivitiesthatdemonstratethirdphasecharacteristics.

Asinsurersprogressthroughthethreephases,their

operatingmodelswillundergoaprofoundtransformation,reshapinghowtheydesignproducts,engagewith

85%

ofinsuranceexecutives

sayorganizationsintheir

industrythatembraceAI

willdevelopacompetitiveedgeoverthosewhodonot

customersandpositionthemselvesinthebroader

ecosystem.Theywillshiftfromofferingstandardizedproductsdevelopedthroughlengthyandrigidapprovalprocessestocreatinghighlypersonalized,dynamic

coveragetailoredtoindividualcustomerneedsin

realtime.AIwillhelpinsurersanalyzevastamounts

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