Insurance leaders expect Gen-AI to deliver windfall in productivity

Leaders across Europe’s insurance sector expect generative artificial intelligence (Gen-AI) technologies to deliver a windfall to productivity, according to the new “EY European Financial Services AI Survey”, which finds that 83 percent of respondents are bracing for a significant impact to their workforce and operations.

The survey, which canvassed the views of executives from 24 European insurance firms—including listed firms representing an aggregate market cap of £239.3 billion ($292 billion)—found that over half (58 percent) of respondents expect that up to a quarter of all roles will require AI training or upskilling over the next six to 12 months, with 21 percent believing it could be as much as half.