Underwriting and risk profiling remains the area of the insurance value chain expected to be most positively impacted by AI, according to a GlobalData poll of industry insiders. However, the proportion selecting this area declined considerably between Q3 2025 and Q3 2026, while product development recorded a sharp increase. This suggests that perceptions of AI’s potential are broadening as insurers explore applications across the wider value chain.
GlobalData’s poll, run on Verdict Media sites in Q3 2026, found that 34.4% of respondents believe underwriting and risk profiling will be the area most positively impacted by AI. This was followed by customer service (20.4%), claims management (18.3%), product development (16.1%), and marketing and distribution (10.8%). Compared with Q3 2025, the proportion selecting underwriting and risk profiling fell by 11.4 percentage points (pp) from 45.8% while claims management declined by 2pp. In contrast, product development recorded the largest increase, rising by 8.9pp; in addition, customer service rose by 2.8pp while marketing and distribution rose by 1.6pp.
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These results indicate that the insurance industry is moving beyond viewing AI primarily as an underwriting tool. Although underwriting remains the leading application, insurers are increasingly using AI to analyse customer and market data, identify coverage gaps, accelerate product design, and develop more personalised offerings. The rise in product development may also reflect growing competitive pressure on insurers to launch products that respond more quickly to emerging risks and changing customer expectations.
AI is also becoming more embedded in customer service through virtual assistants, personalized communications, and faster query resolutions. In claims, the technology can support fraud detection, damage assessment, document processing, and settlement decisions. However, the slight decline in respondents selecting claims management may suggest these applications are becoming established, rather than being viewed as the area with the greatest future impact.
To maximise the value of AI, insurers should adopt a coordinated strategy across the entire insurance value chain, rather than focusing investment on individual use cases. This includes combining AI-driven underwriting with intelligent claims automation, enhanced customer service, and data-led product innovation. Insurers must also ensure that AI systems are transparent, fair, and regulatory compliant in all AI applications to build trust and long-term value.
