New use cases and approaches reflect growing Generative AI maturity in Insurance

We understand that this latest Gartner® report discusses the steady increase in GenAI use case exploration and investments across the insurance industry. We also understand the report covers the challenges faced when delivering use cases from ideation to full deployment to support maximising return on investment. 

The appetite to explore GenAI is increasing across the insurance industry. Allocated budgets and initial use case ideations, notably focused on enhancements in customer service, IT functions and underwriting support, are growing significantly across tier 1 insurers and, more recently, the mass market. Despite this, only a fraction of these use cases reach production phase for a return on investment. Insurers are turning to vendor-provided GenAI solutions to support delivery speed, rather than developing them in–house.  

This report explores:

• The slow and steady GenAI implementation path for most
• How insurers are taking a multi-model approach to GenAI, particularly in customer service
• The different approaches for GenAI implementation