AI progress in insurance is being slowed less by the technology itself than by legacy systems, unresolved accountability questions and procurement cycles that can't keep pace, executives warned
AI’s payback period may be longer than expected, as costs, timelines and benefits remain difficult to separate and quantify, industry experts said at ITC Asia.
Insurers will need to adopt AI, geospatial tools and specialist partnerships as conventional underwriting models struggle to keep pace with fast-evolving risks, says Japan's NTT Data.
Actuaries are examining how quantum error correction breakthroughs could sharpen nat cat models and parametric pricing, though the technology would bring new risks.
