This article focuses on the specifics of investments in Analytics/AI. Charts and analysis within this review originate from an interactive dashboard which can be viewed at the bottom of the page.
The insurance industry is investing heavily in Analytics/AI. This trend is set to continue over the coming years, supported by the ongoing rapid emergence and adoption of new technologies, strong return on investment (ROI) to date and widespread consensus on the magnitude of future opportunities this area of innovation promises.
This article draws on primary research data from our recent technology investment study to review how Analytics/AI investments compare to other technology types in areas such as prevalence, ROI, delivering to expectations and ease of implementation. It also examines how well Analytics/AI has performed when applied to a range of differing objectives. For readers considering an investment in Analytics/AI, the insights discussed provide guidance to inform decision-making – highlighting the areas in which peers in the industry have achieved most success to date in the application of Analytics/AI, as well as potentially more high-risk applications of this innovative and constantly evolving technology.