Insurers accelerate use of AI: Conning

Insurers have significantly increased their investment in and implementation of generative artificial intelligence, according to a report released Wednesday by Conning.

The Hartford, Connecticut-based investment management company said 55% of respondents reported early or full adoption of generative AI, compared with minimal adoption in the 2024 survey.

Conning said it surveyed more than 100 C-suite executives and technology decision-makers from property/casualty, life/annuity and multiline insurers.

Generative AI is being used in sales and underwriting to enhance accuracy and efficiency, in operations and claims to streamline workflows and in risk control and pricing to assess risks and set prices, the report said.

The survey was conducted between Jan. 1 and March 31.