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Conning's 2025 Survey on AI & Insurance Technology: The C-Suite Verdict

Conning, a prominent global investment management firm, has recently published findings from its third annual Survey on AI & Insurance Technology, focusing on the responses from C-suite executives regarding the integration of artificial intelligence within the insurance sector. The report, titled AI in Insurance: The C-Suite Verdict, emphasizes that U.S. insurers are increasingly recognizing the potential of AI and actively incorporating it into their workflows. This transition comes with substantial implications for both workforce development and cyber risk management.

Key Findings of the Survey

In the latest survey, a remarkable 90% of respondents indicated that they are currently assessing the deployment of generative AI within their operations, with 55% having progressed to early or full stages of implementation. This marks a significant increase from previous years, illustrating a robust and growing interest among insurers in leveraging AI technologies to enhance various operational aspects.

• - Generative AI on the Rise: While generative AI adoption was minimal the previous year, it has gained traction swiftly. Now, over half of the survey participants report being at either early or full adoption phases, highlighting the urgency with which the insurance industry is embracing technological advancements.
• - AI in Claims Processing: Another essential trend noted is the increased use of AI, particularly in claims processing and business operations. This technology facilitates improved efficiency and better decision-making, reshaping how these processes are traditionally managed.

Transforming the Insurance Workforce

Looking ahead to 2035, the report forecasts a transformative shift within the insurance workforce. As AI continues to automate repetitive tasks, there will be a growing emphasis on customer relationship management and technological competence. Industry positions will require new skills tailored to an evolving landscape, thereby redefining the traditional career trajectories within the sector.

• - Future Skills Demand: The rise of AI will necessitate a workforce capable of adapting to new technologies, encouraging professionals to cultivate a blend of soft skills and tech-savviness to thrive in emerging roles.

Navigating Cyber Risks via AI

Interestingly, while AI presents challenges in terms of creating potential vulnerabilities, it also plays a pivotal role in enhancing cyber risk management strategies. Insurers are increasingly utilizing advanced AI capabilities to bolster their threat detection and mitigation processes, striking a balance between the risks and benefits associated with adopting cutting-edge technologies.

Industry Impact

The survey encapsulates the perspective of C-suite executives from leading U.S. insurance firms. With 44% of responses sourced from executives in the Life/Annuity sector and an equal distribution from Property and Casualty insurers, the feedback reflects a comprehensive overview of industry-wide sentiments regarding AI integration.

Manu Mazumdar, the Head of Data Analytics and Insurance Technology at Conning, emphasized the ongoing enhancements AI brings to operations, claims, underwriting, and more. He anticipates a continuing rise in AI's influence as insurers explore innovative opportunities in the upcoming years.

In summary, Conning's report presents a clear picture of the insurance industry's trajectory toward greater AI adoption. With significant investments and increasing integration of these technologies, the landscape is set to evolve dramatically, catalyzing workforce changes and reshaping operational methodologies for insurers. For comprehensive insights into the AI & Insurance Technology landscape, stakeholders are encouraged to access the full survey results via Conning’s website or contact their offices directly.

For further inquiries about the report, please reach out to Alyssa Gittleman at Conning or Katrin Lieberwirth at Stanton.