New report from Insly explores leading AI use cases happening now, and how MGAs and insurers can deliver ROI from the technology, while managing the risks.
20 May 2025: A new report on AI in insurance has been launched at The BIBA Conference 2025 by Insly, the low-code software provider to the insurance industry. Analysing the progress of AI adoption across the sector, the report includes insights from businesses experimenting with the technology, identifies the most promising use cases, and how to overcome some of the biggest barriers to implementation, success, and ROI.
Since ChatGPT launched two years ago, the race has been on to maximise the productivity gains promised by generative AI, along with other AI technologies spanning optical character recognition, large language models, machine learning, and beyond. But despite significant experimentation and a few trailblazers, many MGAs and insurers are still unsure how to implement AI successfully and maximise its value for the bottom line. A recent study by Boston Consulting Group found that 74% of companies struggle to achieve and scale value from AI.
“Everyone’s scrambling to figure out how to ‘leverage AI’ for their business, especially after reading that all their competitors are already pros at it (spoiler: they aren’t),” says Risto Rossar, CEO of Insly. “This leads to a fair bit of panic and, let’s be honest, some questionable investments.”
The new report aims to provide a real-world view of AI adoption and managing the risks, including:
- AI, the real benefits for insurance: The value of AI for speed, efficiency, innovation, customer experience, and decision-making
- AI across the insurance lifecycle: The most promising use cases where AI tools and technologies are transforming processes, supercharging efficiency, and aiding innovation and growth.
- Risk management: Overcoming key barriers such as trust issues, privacy and security concerns, change management, integration, and data challenges.
- Maximising ROI: How can insurance companies and MGAs ensure their investments in AI deliver real value while minimising business risk?
“Implementing AI can seem daunting for MGAs and insurers, but it doesn’t have to be,” comments Risto Rossar. “By focusing on small, defined use-cases and building adoption from there, any company can start feeling the benefits of the technology faster than they may think, while ensuring they’re prepared for an AI-powered future.”
Insly’s AI report can now be downloaded here.
