Page 84 - revue RDV 2024 (15_04)

A R T I C L E S 84

How can the emergence of

artificial intelligence influence

insurers’ business models?

Global investment in Artificial Intelligence (AI) is experiencing exponential enormous potential, only partially imaginable to date.
Mr. Dario FOCARELLI
expansion, estimated to have surged thirteenfold since 2016, leading to New technologies are rapidly spreading across all economic sectors,
the establishment of 41,500 new companies spanning diverse AI sectors. including the insurance industry. Insurance companies are heavily Director General of ANIA
The recent revenue and profitability announcements from Nvidia, an investing in adopting innovative technological solutions to support (Italian Association of
insurance firms)
American company specializing in AI-focused chips, have been striking: their activities, with AI applied across the insurance value chain, from
Member of the Executive
the company’s stock price, which stood at less than $150 on January 1, product development to marketing, from risk underwriting to internal Committee of Insurance
2023, has now soared to just under $900. administration, from claims management to after-sales services. Europe
Indeed, AI will continue to advance rapidly, with leading research centers Technology-driven transformations have the potential to change
predicting significant increases in global economic productivity thanks traditional business models in the insurance industry. The vast volume
to new technologies. AI promises better healthcare, safer transport of data available, coupled with rapid processing capabilities, may shift
systems, ‘tailor-made’ and cheaper consumer products and services, the industry’s role from simple damage compensation to that of a global
as well as facilitating access to information, education, and training risk management consultant, contributing positively to economic-social
for young people and workers. Thus, AI represents a revolution with systems and enhancing risk prevention.