Scaling artificial intelligence

Scaling AI in insurance

The advent of artificial intelligence technology has brought a whirlwind of change, crafting and creating new opportunities at what feels like break-neck speed. For firms in the insurance sector, harnessing the power of AI is not just about keeping up with the competition—it's about surpassing them. In an era where digital innovation is the driving force of change, AI's potential to solve problems, stimulate new challenges, and promptly address them is unparalleled.

Scaling AI in an insurance organization, however, is no small feat. It requires a structured approach, a clear vision, and an in-depth understanding of how to prioritize efforts effectively. Navigating this complex landscape can be daunting, which is why we've developed a comprehensive three-phase generative AI framework. This roadmap for success is designed to guide you from the very start, so that you can bring your ambitious AI strategy to life and scale it confidently and efficiently within your organization.

Optimizing your generative AI framework

The first step in scaling AI is referred to as Horizon 1, which revolves around experimenting, testing, and verifying AI applications internally. At this stage, the focus is primarily placed on evaluating how adoption and scalability is likely to play out. Organizations in Horizon 1 are still emerging in terms of AI maturity, developing foundational capabilities, and laying the groundwork for their AI policy and governance.

Differentiating how you’re scaling AI

As organizations progress to Horizon 2, the goal evolves. Now, the aim is to combine traditional and generative AI solutions to help build a more expansive AI strategy, and then effectively set the stage for it to scale seamlessly. To get tangible value from AI, organizations need to shift their focus away from producing individual solutions, and instead prioritize building integrated problem-solving systems using a variety of AI technologies that offer a more holistic view. A more comprehensive scope of information can help deliver experience and value for internal customers (employees) and external customers (advisers, agents, policyholders, etc.) alike.

Disrupting AI in insurance

Horizon 3 represents the culmination of effective AI adoption and scalability. Here, AI can help transform traditional business models by creating entirely new ways of using technology. At this point, building enterprises powered by a generative AI framework becomes a reality. The goal then shifts toward establishing a collaborative work environment where humans and machines work together to create entirely new opportunities.

Each stage of this process builds upon the previous one, establishing a robust foundation for sustainable and scalable AI development. This progressive approach ensures that your organization is well-equipped to navigate the complexities of AI integration. For a more detailed breakdown of each horizon and how to implement this plan effectively, we encourage you to explore our full report to gain a more in-depth understanding of the AI landscape and the steps needed to harness its potential successfully.

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