Article ID: 2c10312618b278fc5ce67263a9bd28f86c1f27d2d4a68ef6fa194d87d7a03a07
Source ID: secondary:businessinsurance.com
Published At: -
Extraction Method: bs4_heuristic
URL: https://www.businessinsurance.com/insurers-look-beyond-efficiency-to-risk-management-in-ai-use/
Body Text
Insurers look beyond efficiency to risk management in AI use - Business Insurance Skip to content Register for free Search Search Log In Risk Management Cyber Risks Pricing Trends Mergers & Acquisitions Technology Sponsored Content WSIA RISKWORLD Workers Comp & Safety Workers Comp Cost Control Pain Management Workplace Safety International EMEA Asia-Pacific Latin America People Events BI Intelligence Top 100 Agents & Brokers Best Places to Work 2025 Lists Directories Insurance Pricing BI Stock Index Magazine Current Issue Past Issues Women to Watch ALL INsurance Resources Risk Perspectives Sponsored Content Webinars White Papers Risk Management Cyber Risks Pricing Trends Mergers & Acquisitions Technology Sponsored Content WSIA RISKWORLD Workers Comp & Safety Workers Comp Cost Control Pain Management Workplace Safety International EMEA Asia-Pacific Latin America People Events BI Intelligence Top 100 Agents & Brokers Best Places to Work 2025 Lists Directories Insurance Pricing BI Stock Index Magazine Current Issue Past Issues Women to Watch ALL INsurance Resources Risk Perspectives Sponsored Content Webinars White Papers Risk Management Cyber Risks Pricing Trends Mergers & Acquisitions Technology Sponsored Content WSIA RISKWORLD Workers Comp & Safety Workers Comp Cost Control Pain Management Workplace Safety International EMEA Asia-Pacific Latin America People Events BI Intelligence Top 100 Agents & Brokers Best Places to Work 2025 Lists Directories Insurance Pricing BI Stock Index Magazine Current Issue Past Issues Women to Watch ALL INsurance Resources Risk Perspectives Sponsored Content Webinars White Papers Risk Management Cyber Risks Pricing Trends Mergers & Acquisitions Technology Sponsored Content WSIA RISKWORLD Workers Comp & Safety Workers Comp Cost Control Pain Management Workplace Safety International EMEA Asia-Pacific Latin America People Events BI Intelligence Top 100 Agents & Brokers Best Places to Work 2025 Lists Directories Insurance Pricing BI Stock Index Magazine Current Issue Past Issues Women to Watch ALL INsurance Resources Risk Perspectives Sponsored Content Webinars White Papers Insurers look beyond efficiency to risk management in AI use by Claire Wilkinson Insurtech , Risk Management , Technology Feb 23, 2026 Insurers are shifting their investments in artificial intelligence from automation and efficiency toward smart tools that can identify risks and prevent losses. They are using AI to scan public social media feeds for red flags, such as sparklers and free alcohol at bars and restaurants, and to analyze high-resolution aerial imagery to flag emerging hazards such as roof ponding and newly installed solar panels on properties, experts say. Zurich Insurance is investing in AI tools for risk management and loss prevention, said Amy Nelsen, New York-based head of underwriting operations, U.S. middle market at Zurich North America. Last year, the insurer partnered with Nearmap, a provider of property and location intelligence, to integrate AI-powered data and property insights directly into its U.S. middle-market underwriting platform. Underwriters use the technology to access regularly updated property details such as high-resolution aerial imagery, roof condition scores and signs of deferred maintenance, Ms. Nelsen said. The tool identifies potential areas of concern for underwriters, she said. “It gives us that really early view” of a risk, she said. Underwriters may recommend that policyholders take specific actions to remedy conditions and prevent potential losses, and policies and deductibles can be structured more accurately, she said. “It also tells us the positive story about a property that looks really good, where the insured’s taken good care of their property and should benefit from having nice exposure results,” Ms. Nelsen said. Visualping’s AI tool monitors social media for high-risk activities in venues such as bars and restaurants, helping insurers identify potential hazards, said Serge Salager, Vancouver, Canada-based CEO of the website change detection platform. The tool monitors changes on web pages and sends alerts when specific conditions are met, he said. Insurers use it to keep tabs on high-risk activities like indoor sparklers, dance events, free alcoholic shots and mechanical bulls. He cited a January 1 fire at a bar and restaurant in the ski resort town of Crans-Montana, Switzerland, that killed more than 40. Swiss authorities have indicated that sparklers in champagne bottles held near a basement ceiling may have contributed to the fire. Visualping provides weekly reports and dashboards for insurers to analyze and act on, he said. The data can inform renewals and be used to inform policyholders on what insurance policies cover and exclude, he said. Insurers are making significant investments in AI, particularly in claims and underwriting, said Tanguy Catlin, Boston-based senior partner at McKinsey. A recent McKinsey survey of chief information officers in financial services, including insurance, found that top-performing companies increased their information technology spending by over 10%, while average performers saw only a 3% increase. Insurers are using AI to streamline processes, reduce cycle times and improve decision-making, Mr. Catlin said. For example, AI can handle complex claims in days instead of months and automate underwriting tasks, he said. In North America, the focus is not just on cutting costs or reducing the workforce, but on driving growth and differentiation, he said. “It’s more about reinvestment of the capacity and effectiveness in risk management,” to reduce loss ratios, especially in a challenging market, Mr. Catlin said. Global fourth-quarter insurtech funding jumped 66.8% from the third quarter to $1.68 billion, according to a recent report by Gallagher Re, the reinsurance business of broker Arthur J. Gallagher & Co. Funding for all of 2025 rose 19.5% from 2024 to $5.08 billion, two-thirds of which went to companies focused on AI, the report said. Related News AI-related claims emerge, policy wordings yet to change: Survey February 23, 2026 CRC launches assault and battery coverage February 23, 2026 McLarens names former Crisis24 exec to lead crisis management February 23, 2026 Canopius teams with Globex on marine risk February 23, 2026 Volvo Cars to recall 40,000 electric SUVs over battery fire risk February 23, 2026 Marsh hires senior adviser from digital infrastructure company February 23, 2026 Love at first crash? February 23, 2026 Nevada approves 21.6% increase in comp loss costs February 23, 2026 Colo. bill would expand workplace protections for extreme temperatures February 23, 2026 Facebook-f X-twitter Linkedin-in Business Insurance is a singular, authoritative news and information source for executives focused upon risk management, risk transfer and risk financing. Never miss important news: Become a Business Insurance Online subscriber today Subscribe Now Information About Us Contact Advertise Privacy Policy Terms & Conditions Copyright 2026. BUSINESS INSURANCE HOLDINGS Member, Beacon International Group, Ltd.
Metadata (JSON)
{
"score": 17.566666666666666
}