The global insurance industry experienced a 42% rise in company filings mentions of artificial intelligence in Q1 2024 compared with the previous quarter, with the highest share accounted for by AXA with 7000% year-on-year increase, according to GlobalData’s analysis of over 153 insurance company filings. GlobalData’s Insurance: Filings Trends & Signals Q1 2024 report delves into earnings call transcripts and quarterly reports within the insurance industry, extracting trends, signals, and comparative data to help businesses assess their performance, identify competitive intelligence, evaluate risks, and gain a comprehensive understanding of key industry events. Buy the report here.
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Notably, artificial intelligence was one of the most frequently referenced themes in Q1 2024, ranking highest in terms of mentions, ahead of online payments and edtech, according to GlobalData.
Of the top leading companies in the insurance industry, AXA had the greatest increase in references for artificial intelligence in Q1 2024, compared with the previous quarter. GlobalData identified 71 artificial intelligence-related sentences in the company's filings - 1% of all sentences - and an increase of 7000% in Q1 2024 compared with Q1 2023. Zurich Insurance Group’s mentions of artificial intelligence rose by 38% to 44 and Allianz’s by 375% to 38 and Aviva’s by 525% to 25 and Arthur J. Gallagher & Co’s by 633% to 22.
GlobalData’s Company Filings Analytics also applies sentiment weight to reference sentences, based on whether the sentences are positive, negative, or neutral. Starting at 100 in 2020, an index over 100 is more positive. The overall index for artificial intelligence in Q1 2024 was 71.
For further understanding of GlobalData's Insurance: Filings Trends & Signals Q1 2024, buy the report here.
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GlobalData, the leading provider of industry intelligence, provided the underlying data, research, and analysis used to produce this article.
GlobalData’s Company Filings Analytics uses machine learning to uncover key insights and track sentiment across millions of regulatory filings and other corporate disclosures for thousands of companies across the world’s largest industries.
