Why It's Time to Embrace Al

Why It Matters

Faster AI-driven underwriting promises materially higher efficiency, consistency and deal throughput while creating new product opportunities and risk exposures; the firm’s investments and acquisition position it to capture growth despite mixed market conditions.

Summary

At the WSIA marketplace in San Diego, insurance executives described a rapid shift from digitized intake to enterprise AI—deploying large language models across underwriting divisions with six-week, augmented workflows that compare submissions to firm guidelines in real time. The rollout follows a multi-year evaluation and heavy employee upskilling to ensure adoption and reduce job-threat fears. Despite a softer overall market, the firm reported strong submission growth—roughly 19–24% across property/casualty, professional lines and healthcare—and is launching new products to insure AI-related exposures. Strategic moves include a life-sciences push, targeted investments in excess casualty and primary casualty, and an acquisition (Apollo) to build a global footprint for life-sciences and occupational accident business.

Original Description

Executive Insights featuring John Burkhart from Skyward Specialty