Summary
This report presents the findings of the EY-Parthenon Insurance Generative AI Survey, conducted in March 2025 with 100 respondents from various insurance sectors, including personal property and casualty (P&C) and life and annuity (L&A) carriers. The survey aimed to assess the current state and future direction of Generative AI (GenAI) initiatives within the insurance industry. Key insights include a shift from ad-hoc GenAI implementations to the development of autonomous agents capable of executing workflows across the value chain. Insurers are prioritizing investments in predictive risk assessments and automated processes, with a focus on enhancing customer engagement. The report also identifies barriers such as data privacy and integration challenges, while highlighting the operationalization of GenAI through top-down governance. Furthermore, it notes that many insurers have experienced significant cost savings and expect further benefits from GenAI advancements. The findings underscore the industry's commitment to leveraging GenAI for improved decision-making and client service.
