Insurance industry leaders emphasize that artificial intelligence (AI) is fundamentally changing the way insurers interact with people, emphasizing that the technology should enhance rather than diminish empathy, personalization and face-to-face interactions, according to a recent report by Sollers Consulting.
The report is based on insights from 11 CEOs of the world’s leading insurance companies. It features interviews with insurance industry leaders from Germany, France, the UK, the US, Australia, Canada and Slovenia. It explores the impact of technological developments on the insurance industry over the past 25 years and the likely impact over the next 25 years.
The report found that insurance leaders view artificial intelligence as the most influential technology shaping the industry today, followed by the Internet of Things (IoT), core systems and cloud technologies. However, several CEOs also highlighted the potential disruptive impact of AI on the industry.
Artificial intelligence is not only changing the way the insurance industry operates, but also how insurance companies work with people, the report said.
A central theme of the report is the impact of AI on humans, with CEOs repeatedly emphasizing that AI should enhance, not diminish, empathy, personalization and face-to-face interactions.
“Artificial intelligence is already driving efficiencies, especially when it comes to processing unstructured data,” said Michał Trochimczuk, president and co-founder of Sollers. “Cost control will be key to competitiveness. This means investing in automation, simplified standard architectures, modern rating systems and intelligent risk selection.”
“Several CEOs highlighted workforce transformation as one of the most pressing challenges of the future,” added Sollers President and Co-Founder Marcin Pluta. “Our respondents denied that AI will inevitably destroy jobs. Instead, roles are shifting to more technical, analytical and strategic responsibilities.”
The report also states that AI, particularly generative AI, is expected to be embedded in every aspect of insurance, from pricing engines and product design to claims automation and customer engagement.
Risk management is considered one of the most prominent areas in development. Leaders note that technology is reshaping how insurers quantify, assess and manage risk, while still relying on human insights to interpret and act on data-driven results.
Sollers acknowledges the transformative potential of AI and the responsibility that insurers have to integrate it thoughtfully. The report concludes that the future of insurance depends not only on smarter systems, but also on how insurers can effectively coordinate AI, people and purpose.