Embedded insurance and artificial intelligence (AI) are two of the most powerful forces shaping the insurance industry. When combined, their impact will be enormous.
Already, embedded insurance provides insurers with an extensive range of distribution channels that deliver convenient, relevant and affordable cover. Revenues from embedded insurance are growing about 25% a year, according to Munich Re, and could contribute more than US$500 billion in global gross written premiums by 2030.
And AI is helping insurers boost the efficiency of key operations such as claims processing and fraud control. Furthermore, the arrival of generative AI (GenAI) has substantially enhanced the effectiveness of insurers’ contact centers and document processing systems. AI sales to the insurance industry are growing around 33% a year and could reach US$80 billion by 2032, forecasts Precedence Research. The surge in demand for GenAI is likely to propel AI investment even higher.
So, what happens when embedded insurance is supercharged with AI?
Supercharging embedded insurance with AI will deliver a wealth of personalized services
Embedded Insurance community
With Qorus memberships, you gain access to exclusive innovation best practices and tailored matchmaking opportunities with executives who share your challenges.
Related news & insights
At work with Cesar Jara Trujillo
From the Andes to innovation hubs: Cesar Jara Trujillo, Chief Innovation Officer at Pacífico Seguros, tells Boris Plantier from Qorus...
QIC introduces Qatar’s first personal cyber insurance
The coverage is designed to safeguard individuals from a wide spectrum of cyber risks, including phishing scams, credit card fraud,...
BBVA unveils redesigned banking app with AI and personalized tools
The update introduces a native codebase designed for scalability across all markets, an overhauled visual identity, and a suite of...
Innovation of the Month: Millennium bcp’s Corporate Homebanking Platform
The Banking Innovation of the Month award for May goes to Millennium bcp’s Corporate Homebanking platform, a practical, user-driven solution...
Where AI meets impact: The RBI Group AI Lab story
In Austria and Slovakia , Raiffeisen Bank International launched the RBI Group AI Lab back in 2017. Vjekoslav Bonic, Head...
Generali builds open insurance strategy around APIs
With nearly 9 out of 10 IT decision-makers reporting difficulty in integrating data from disparate systems, and only 28% of...
At work with Aslı Bengi
Aslı Bengi is Head of Customer Analytics and Customer Experience at QNB Sigorta in Turkey. She shares her day-to-day experience...
Innovation Radar: Reinvention Awards Europe winners 2025
Discover the most innovative projects from banks and insurance companies in Europe.