Intelligent insurance

Leaders in insurance are already using AI effectively for fraud prevention, real-time risk assessment, automated claims processing and dynamic pricing. But where it could have the biggest impact is in the use of Gen AI and autonomous agents to deliver personalised insurance cover.

We surveyed over 183 key decision makers from the insurance sector about the AI opportunities and the barriers holding up faster adoption.

The outcome is our ‘Intelligent insurance’ report. It provides a blueprint you can use to deliver value with AI.

Read the ‘Intelligent insurance’ report

Leanne Allen

Partner, Head of AI Advisory

KPMG in the UK

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AI is more than a technology investment for insurers — it is a transformative catalyst for redefining strategy, culture and operations. To fully unlock its potential, insurers must overcome inertia, embrace its possibilities and embed AI as a core driver of customer-centric and sustainable growth.

Frank Pfaffenzeller

Global Head of Insurance, KPMG International

How you can deliver value with AI

We’ve identified a framework for AI value creation based on leading practice among insurers. The framework can help you build maturity across three distinct phases. Across these, the model looks at how you can increase the maturity of your tech foundations, the use of AI in functions, and how AI is orchestrated across the enterprise.

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Phase 1: Enable your people

This phase is about enabling your people and building AI foundations. You’ll be creating an AI strategy, identifying high-value use cases, boosting AI literacy, aligning with regulations, and establishing ethical guardrails.

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Phase 2: Embed AI into workflows

The Embed phase integrates AI into end-to-end workflows, products and services. In doing so, you start to deliver greater value. Your focus should be on breaking down silos and embedding AI across your core functions. That will provide real-time insights and improve decision making. You’ll now be measuring customer satisfaction scores and speed to market as key metrics of success, alongside efficiency and cost reduction.

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Phase 3: Evolve the insurance eco-system

During the Evolve phase, you’re forming new business models and ecosystems to solve industry-wide problems. And you’re part of an ecosystem with customers, suppliers and governments. You’re using predictive insights to deliver sustainable outcomes. AI agents are no longer inhibited by silos or organised along value streams. And real-time monitoring ensures the integrity of your platforms.