Reuters Events Releases Special Report on Digital Transformation in the European Insurance Sector, Revealing Generative AI Adoption Gap

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The report utilises proprietary research to analyse key trends, investment priorities, and obstacles encountered by insurers in the region. Findings indicate that while data analytics and automation have been central to past technology investments, AI and generative AI are now dominating future technology roadmaps. However, the report also reveals that a significant portion of European insurers are still in the early stages of testing generative AI use cases. 81% of respondents from Europe have yet to move beyond testing use cases.

Other key findings include:

• Customer experience is seen as the primary beneficiary of generative AI, though concerns around data privacy and security persist.

• Insurers should not expect straightforward ROI from AI investments and should focus on alternative measures of success.

• High costs, delays, and interoperability challenges are significant hurdles in technology procurement.

The report features commentary from industry leaders, including Simon Wilson, Chief Executive Officer, Markel Insurance; Arturo Lopez-Linares, Chief Claims Officer, AXA; Grace Flowers, Chief Underwriting Officer, Zurich Insurance; and Raphael Gusdorf, Chief Digital Officer, AG2R La Mondiale.

"The European Insurer's Digital Transformation Journey" is available for download at https://shorturl.at/dkm6M. The report is based on a survey of 54 insurance professionals based in Europe, conducted in December 2024-January 2025.

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