Australia: AI Implementation in Life Insurance
A recent study highlights the growing adoption of artificial intelligence (AI) within the Australian life insurance sector. The research, conducted by Equisoft and LIMRA in collaboration with Universal Conversion Technologies, reveals that a significant portion of life insurers are gearing up to implement AI solutions.
The study, titled “Assessing Data Readiness for AI in the Life Insurance Industry,” revealed the following:
“All companies agree that AI is an important element of their digital transformation roadmap.”
This statement captures the essence of the industry’s perspective on AI.
The findings suggest a proactive approach by Australian life insurers to embrace technological advancements. The implementation of AI is seen as vital to the ongoing digital transformation efforts within the industry.
AI implementation is considered crucial for digital transformation.
This information is critical for industry stakeholders.
