How AI is transforming Property & Casualty insurance

Generative AI is transforming the insurance industry, influencing everything from underwriting and claims to governance and risk management. In a recent interview with Business Insurance, Laura Doddington, North America Head of Personal & Commercial Lines for WTW Insurance Consulting and Technology, discusses the current scramble to implement AI and how organizations can scale it effectively. Watch the full interview with Gavin Souter to hear Laura’s insights on how AI is shaping the insurance industry: https://ow.ly/pIl150XrheX #Insurance #GenerativeAI #ArtificialIntelligence

💰 The insurance industry just cracked the code on AI—and the results are game-changing. While most industries are still figuring out AI, insurers are already seeing massive wins: ✅ Claims processing times slashed dramatically ✅ Customer experience improved across the board ✅ Operational costs dropping while service quality soars But here's what's really smart about their approach... They're not going all-in on fully automated AI. Most major insurers still require human oversight for significant business lines. Why? Because they understand something crucial: The biggest AI wins come from augmenting human expertise, not replacing it. The insurance industry is proving that the companies winning with AI aren't the ones moving fastest—they're the ones moving smartest. They're using AI to handle repetitive tasks while keeping humans in the loop for complex decisions. The result? Better outcomes for everyone. This measured approach is paying off big time. Buyer-friendly conditions, intense competition, and now AI-powered efficiency gains are creating a perfect storm of value. What other industries could learn from insurance's balanced AI strategy?

🔍 Fraud in insurance is evolving — image & video evidence are now a battleground. In my latest blog, I explore how insurers can leverage AI to detect manipulated or false visual evidence in claims. I cover: • Why metadata, pixel-anomalies and duplication checks matter. • The multi-layered strategy: from simple anomaly detection to deepfake video analysis. • A prioritised roadmap: start with the highest-impact, lowest-complexity use-cases and build up. • Why human-in-the-loop remains essential & how AI augments investigator workflows. 🚀 Why this matters: Fraudulent claims cost insurers billions, and as generative AI becomes more capable, visual manipulation is no longer niche. By building advanced image-/video-fraud detection capabilities, insurers can recover trust, reduce losses, speed claims, and enhance customer fairness. 💡If you’re working on AI for claims, or exploring visual data in risk management, you’ll can find the roadmap helpful — especially in framing “quick wins” vs “future bets”. 📝 Read the full article here: https://lnkd.in/gCUeFwdi I’d love to hear: What’s your biggest challenge when it comes to visual evidence in claims? Drop a comment or DM me to discuss. #Insurance #Insurtech #AI #FraudDetection #ImageForensics #VideoAnalytics #ProductManagement #DigitalTransformation

Insurance is under pressure – from fraud, regulation, and shifting customer demands. 🔍 This week at the Insurance Innovators Summit 2025, we’re ready to talk about how to respond with confidence. In London, the industry will explore how to stay ahead of complex risks with smarter automation, adaptive strategies, and real-time decisions. While many talk about disruption, we’re looking for direction: 🔹 How can insurers stay agile against increasingly sophisticated fraud? 🔹 What does real-time compliance look like in practice? 🔹 And where does AI truly help – without adding complexity? Our Risk & Fraud experts Ana Miranda and Halyna Hermanns, CAMS will be there to explore these questions and share how RiskShield by INFORM, powered by Hybrid AI, drives faster, smarter decisions across the value chain. 💡 Let’s connect and move the conversation forward. 🤝 #WorldOfRiskShield #IISummit25 #FraudPrevention #AMLCompliance #HybridAI

We're back from #ITCVegas and we heard from the industry - loud and clear! Commercial P&C insurance carriers and others are asking for AI-powered underwriting solutions that will streamline their underwriting workflows and more. We've got five reasons you need an underwriting workbench here in our latest blog post: https://lnkd.in/gxtgD-7p #ai #ml #data #datalake

How AI is Reshaping Commercial Insurance and Risk Assessment – with Sidharth Ojha of AXA XL: Companies that invest in clarity of roles, process alignment, and data quality will find it easier to move AI from experimentation to enterprise-wide ...

Aon unveils AI claims platform - Insurance Business America: Driving compliance and transparency: Offering real-time dashboards, audit trails, and regulatory reporting. Supporting brokers and agents ... #regulatoryreporting #regulation #finperform

It is all about data in the insurance industry for predictive analytics and forecasting. But majority of UK insurers not confident in the data which ultimately has a impact on the use of AI by many insurers.Dun and Brad survey finds

How a Tampa Bay Insurer is Closing the AI Coverage Gap Artificial intelligence has changed how business leaders work, communicate and protect what they’ve built — but insurance hasn’t kept up. Tampa-based ME Wilson calls this the Executive Risk Gap: the widening disconnect between what executives think is covered and what actually is. As employees use AI tools that can expose confidential data, traditional policies often fail to address new risks like shadow AI, voice fraud and algorithmic discrimination. For ME Wilson, closing that gap means reimagining insurance as a strategic shield, one that protects not just a company but the life, legacy and reputation behind it. 🔗 https://lnkd.in/gNExmJGj

The next competitive edge in insurance will come from cognitive intelligence, not just automation. Most insurers have automated tasks. Very few have modernized how decisions are made. Cognitive-ready insurers are shifting from: ⚡ Tasks → Decisions (risk scoring, triage, fraud signals) ⚡ Silos → Shared intelligence across underwriting, claims & distribution ⚡ Data collection → Continuous learning loops This is where real speed, accuracy, and customer trust are created. Cognitive Insurance isn’t a tool — it’s a smarter operating model. Where do you think the biggest impact will be felt first — Underwriting, Claims, or Distribution? #InsuranceTransformation #CognitiveInsurance #Insurance #InsurTech #AIinInsurance #DigitalInsurance #UnderwritingExcellence #ClaimsAutomation NextZen Minds