AI reviving InsurTechs, says Gallagher Re.

May 12, 2024
1 min read






AI in InsurTech

TLDR:

  • AI could be a game-changer for InsurTech according to Andrew Johnston, global head at Gallagher Re InsurTech.
  • In Q1, AI-centred InsurTechs accounted for 28% of all deals in the Global InsurTech report.

If delivered properly, AI could be “one of the best things that could have happened to InsurTech” as it brings the conversation back into vogue, Andrew Johnston, global head at Gallagher Re InsurTech, told this publication.

Key Elements:

The article discusses the potential impact of AI on the InsurTech industry, highlighting that AI-centred InsurTechs accounted for 28% of all deals in the Global InsurTech report in Q1. Andrew Johnston believes that AI could be a game-changer for InsurTech, bringing the conversation back in vogue.

Johnston emphasizes the importance of delivering AI properly and suggests that if done right, it could be one of the best developments for the industry. The article also touches on the broader implications of AI on the insurance industry as a whole, with AI impacting every industry according to AXA XL Americas CEO.

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