Insurers Highlight Data & AI Gaps Amid Growth Ambitions

New findings from Cynozure and The Insurance Network highlight the place insurers are progressing, and what’s wanted to show ambition into impression

Cynozure, a number one knowledge, analytics and AI consulting agency in collaboration with The Insurance Network (TIN), right now introduced the launch its newest report, What Matters Most for Insurers Now: Cynozure’s 2025 report on knowledge and AI in insurance coverage, in partnership with The Insurance Network.

The report, based mostly on a survey of 35 senior leaders from throughout the UK and world insurance coverage markets, finds that insurers overwhelmingly see knowledge and AI as vital to development, however battle to align ambition with execution. While 66% intention to construct a data-driven tradition and 46% need real-time decision-making, far fewer are prioritising the enabling initiatives wanted to get there. Just 11% are investing in knowledge literacy. Only 29% are enabling self-service analytics. The hole between strategic outcomes and the capabilities and funding being mobilised to assist them which can even be reflective of inside readiness slightly than strategic ambition.

Key findings embody:

• 69% of insurers say realising enterprise worth from knowledge and analytics is a high precedence within the subsequent 12–18 months
• Yet solely 11% are prioritising knowledge literacy, and 29% enabling data-driven decision-making, two necessities for turning knowledge into motion
• 49% cite price range or useful resource constraints as a high blocker, however the nature of limitations differs by agency measurement: smaller companies face resourcing gaps, whereas bigger companies battle with legacy programs and knowledge high quality and governance
• Ownership of AI technique is unclear or fragmented: solely 31% say it’s led by a CDO or equal; 25% say there isn’t any clear proprietor or it’s distributed throughout groups
• 54% say knowledge and AI are central to future development, and practically 75% report board- or executive-level sponsorship
• Two-thirds of insurers at the moment are actively exploring or deploying AI brokers, suggesting the sector is transferring past experimentation, however success will hinge on robust management, governance, and tradition.

Jason Foster, Founder & CEO at Cynozure, commented: ”The course of journey is obvious: insurers need sooner, smarter, extra data-guided operations. But delivering on that ambition is proving troublesome. Progress is being held again by unclear or fragmented knowledge & AI possession, legacy know-how, knowledge high quality and governance points, and underinvestment within the capabilities that drive actual impression.”

Jeremy Burgess, CEO at The Insurance Network, added: “This report spotlights the actual execution challenges going through insurance coverage leaders right now. It’s a must-read for anybody shaping knowledge and AI technique in a regulated, complicated surroundings.”

You can obtain the complete report right here.

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