Video presentation
ICMIF HR Forum
Artificial intelligence is beginning to reshape the insurance workforce, driving changes in roles and skills as well as the development of talent strategies to support adoption. As the technology becomes more embedded in day-to-day operations, this session by ICMIF Supporting Member EY considered both the opportunities AI presents for insurers and the practical workforce challenges organisations will need to address.
Market context and AI adoption
The session explored how AI is reshaping the insurance workforce against a backdrop of wider market disruption. EY described the current environment as a “NAVI” world: nonlinear, accelerated, volatile and interconnected. Insurance is being affected by sudden shifts in technology, regulation, demographics and customer expectations, while global volatility and interdependent risks are creating additional pressure on operating models.
AI adoption in insurance is still relatively early, but momentum is building. Many firms remain focused on generative AI tools, such as digital assistants, but the market is moving towards more agentic AI, where systems can autonomously execute multi-step tasks. Research cited in the session suggested that around 80% of firms are in the early stages of integrating AI into workflows, while many P&C carriers plan to allocate more than 10% of their technology budgets to AI over the next two years. However, EY cautioned that expectations of cost…
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