AI benchmarking and intelligence platform Evident today unveiled its AI Use Case Tracker for Insurance, a searchable database capturing every publicly announced AI deployment by leading insurers in North America and Europe since January 2024.
Key findings from the tracker include:
- 103 distinct AI use cases identified across 30 of the world’s largest insurers.
- Customer service, underwriting, and claims account for nearly two‑thirds of all deployments.
- Efficiency gains (e.g., reduced processing times, cost savings) are the most frequently reported ROI metric.
- Generative AI models represent over half of P&C insurers’ reported use cases—primarily as co‑pilots for claims managers and customer service teams.
- Composite insurers lead with 29 use cases, mostly leveraging traditional AI techniques; P&C insurers follow with 24 use cases, a majority using generative AI.
- AIG stands out as the only insurer publicly disclosing an agentic AI deployment, which slashed quote timelines from weeks to under a day.
Notable example implementations featured in the tracker:
- Manulife’s QuickQuote: Reduces underwriting time from one day to just 15 minutes for simpler cases.
- Liberty Mutual’s “LibertyGPT”: Supports summarisation and knowledge tasks; adopted by 25% of employees, saving an average of 1.5 hours per user each week.
- Progressive’s GenAI‑powered ad engine: Achieved a 197% increase in customer engagement and a 31% rise in quote starts.
“Insurers are quickly moving from back‑office pilots to organisation‑wide AI deployment, including in key operational and customer‑facing processes,” said Annabel Ayles, Co‑founder and Co‑CEO of Evident.
“What is striking is the breadth of the deployments across core operations and how generative AI is rapidly shifting from experimental to essential, especially in customer service.”
This insurance‑focused tracker builds on Evident’s earlier Banking Use Case Tracker, which documents nearly 400 AI deployments across 80 major banks and insurers. By offering transparent, up‑to‑date intelligence on who is using which AI technologies—and to what effect—Evident aims to help financial services leaders benchmark their own AI initiatives, spot emerging opportunities, and guide smarter, more competitive investments.
