Insurers are starting to use AI for product development, customer service and claims management as understanding of the technology increases, according to GlobalData.

Growing confidence is driving companies to take AI use beyond underwriting, the analytics group says after analysing the 40 business-to-business websites under its Verdict Media subsidiary.

GlobalData insurance analyst Sahil Haider says insurers are looking to use the technology to enhance customer engagement, accelerate product innovation and support operational efficiency.

“This broader adoption reflects a growing understanding that AI can create competitive advantages throughout the insurance value chain rather than within a single function,” he said.

Insurers are moving from experimentation to more strategic AI deployment, and integrating the tech across business functions.

“Successfully combining underwriting, product development, claims and customer service will allow insurers to respond more quickly to changing customer expectations, improve operational performance and build more resilient businesses,” Mr Haider said.