GenAI-oneers In Insurance

GenAI has rocketed from moonshot to reality. To flesh out the reality for insurers, Celent surveyed insurance executives in roles tied to innovation.

Between March and April 2024, we asked them how their sentiment toward GenAI had changed over the prior year, their state of adoption by area, their view of expected impact by use case, and their technology approach, as well as the key success factors they have identified through their recent experience.

The headline finding of the Celent survey is that the frontrunners are in the early majority phase of adoption (in production) and will move into the late majority phase within a year. This level of tech adoption is exceptional in the annals of insurance.