Third Annual Survey Reveals Strong Trends in Generative AI Adoption, and Workforce Transformation

, /PRNewswire/ -- Conning, a leading global investment management firm, today announced findings from its third annual Survey on AI & Insurance Technology, AI in Insurance:

The C-Suite Verdict. The report highlights how U.S. insurers are increasingly integrating artificial intelligence into their workflows across impact areas, prompting a shift toward upskilled workers and key implications for cyber risk management.

"With 90% of the respondents in some stage of Generative AI evaluation and 55% in early or full adoption, Generative AI has shown the strongest uptick amongst all AI technologies. Insurers are ramping up their investment in and adoption of AI as an integral part of their workflow," said Manu Mazumdar, Head of Data Analytics and Insurance Technology, Insurance Research at Conning and author of the report.

The survey reveals several trends in AI adoption across the industry, including:

"Across the value chain, AI is already increasing efficiency and accuracy in areas like operations, claims, and underwriting, and we expect its impact to continue growing as insurers innovate further in the years to come," Mazumdar added.

Conning's Survey on AI & Insurance Technology gathers responses from top US C-suite executives and decision makers who "greenlight" the adoption of these emerging technologies. 44% of this year's survey came from executives in Life / Annuity insurers and an equal percentage came from Property and Casualty insurers. The remaining came from primarily executives of multiline insurers.

For more information on AI in Insurance: The C-Suite Verdict, a key study for insurance industry executives, visit here or contact (888) 707-1711.

ABOUT CONNING  

Conning (www.conning.com) is a leading investment management firm with a long history of serving the insurance industry. Conning supports institutional investors, including insurers and pension plans, with investment solutions, risk modeling software, and industry research. Founded in 1912, Conning has investment centers in Asia, Europe, and North America. Conning is part of the Generali Group.

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SOURCE Conning, Inc.