Managing AI risks is an imperative part of the digital transformation journey for companies in the insurance industry. (the_lightwriter/Adobe Stock) Managing AI risks is an imperative part of the digital transformation journey for companies in the insurance industry. (the_lightwriter/Adobe Stock)

Historically known for its cautious approach to technological innovations, the insurance industry is at a crossroads as it grapples with the integration of artificial intelligence with operations. Recent research from Accenture indicates that 12% of customers trust automated web services for claims, with only 7% trusting chatbots. While insurance professionals and policyholders question AI adoption throughout the industry, there’s no denying the transformative value it brings.

From personalized policy offerings to the streamlining of claims processing, AI advancements have the power to enhance policyholder experiences, improve operational efficiency and create a more secure future. Managing AI risks is an important piece to this, ensuring that the potential advantages of AI and digital transformation are achieved while safeguarding policyholders’ privacy, data security and fairness in insurance processes. It is crucial that we evaluate the benefits of AI adoption across the sector, reasons behind skepticism around AI adoption, and how the insurance industry is managing AI risks.

Want to continue reading?
Become a Free
PropertyCasualty360 Digital Reader.


  • All news coverage, best practices, and in-depth analysis.
  • Educational webcasts, resources from industry leaders, and informative newsletters.
  • Other award-winning websites including and

Already have an account?


© 2023 ALM Global, LLC, All Rights Reserved. Request academic re-use from All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.


Complex Claims & Litigation Forum 2024Event

The conference experience aimed to help insurers and litigators Prevent, Prepare, and Prevail in complex claims cases and risks.

Get More Information


Join PropertyCasualty360

Don’t miss crucial news and insights you need to make informed decisions for your P&C insurance business. Join now!

  • Unlimited access to - your roadmap to thriving in a disrupted environment
  • Access to other award-winning ALM websites including, and
  • Exclusive discounts on PropertyCasualty360, National Underwriter, Claims and ALM events

Already have an account? Sign In Now
Join PropertyCasualty360

Copyright © 2023 ALM Global, LLC. All Rights Reserved.