Insurers bullish on analytics
What happened
U.S. insurers say they’re optimistic about investments in 2026 — and that optimism is backing heavy analytics spending: only ~33% of P&C carriers today use advanced analytics for fraud but adoption is forecast to more than double, and straight‑through claims processing is projected to climb from 14% to 50%. This combination of capital willingness and tech momentum is reshaping underwriting and claims workflows fast. ( )
Why it matters
WTW’s 2026 Advanced Analytics & AI survey found insurers with stronger analytics posted combined ratios six percentage points lower and premium growth three percentage points higher between 2022–2024. (finance.yahoo.com) The WTW study sampled 59 North American P&C carriers and drew responses from senior executives across analytics, actuarial and strategy functions. (insurancebusinessmag.com) Predictive pricing and underwriting models are effectively ubiquitous: about 80% of respondents already rely on advanced rating/pricing models and another ~11% plan to implement them soon. (finance.yahoo.com) Claims analytics lagged underwriting but is slated to catch up, with WTW reporting expected adoption in severity and fraud analytics rising to roughly 65–70% within two years. (finance.yahoo.com) More than half of surveyed carriers report current use of large language models/generative AI, while an additional 29% intend to adopt these tools within two years. (insurancebusinessmag.com) Only 16% of carriers currently use AI to augment underwriting decisions today, but 60% say they will prioritise that capability by 2028, and 42% cite data quality and IT bottlenecks as the top barriers to scaling analytics. (finance.yahoo.com) Conning’s 2026 Insurance Investment Risk survey shows 76% of U.S. insurers see improving investment opportunities for 2026 and many plan to increase investment risk into private markets and higher-quality fixed income. (businesswire.com)
Key numbers
- ( ) WTW’s 2026 Advanced Analytics & AI survey found insurers with stronger analytics posted combined ratios six percentage points lower and premium growth three percentage points higher between 2022–2024.
- (finance.yahoo.com) The WTW study sampled 59 North American P&C carriers and drew responses from senior executives across analytics, actuarial and strategy functions.
- (insurancebusinessmag.com) Predictive pricing and underwriting models are effectively ubiquitous: about 80% of respondents already rely on advanced rating/pricing models and another ~11% plan to implement them soon.
- (finance.yahoo.com) Claims analytics lagged underwriting but is slated to catch up, with WTW reporting expected adoption in severity and fraud analytics rising to roughly 65–70% within two years.
What happens next
- (insurancebusinessmag.com) Predictive pricing and underwriting models are effectively ubiquitous: about 80% of respondents already rely on advanced rating/pricing models and another ~11% plan to implement them soon.
- (finance.yahoo.com) Claims analytics lagged underwriting but is slated to catch up, with WTW reporting expected adoption in severity and fraud analytics rising to roughly 65–70% within two years.
- (insurancebusinessmag.com) Only 16% of carriers currently use AI to augment underwriting decisions today, but 60% say they will prioritise that capability by 2028, and 42% cite data quality and IT bottlenecks as the top barriers to scaling analytics.
Quick answers
What happened in Insurers bullish on analytics?
U.S. insurers say they’re optimistic about investments in 2026 — and that optimism is backing heavy analytics spending: only ~33% of P&C carriers today use advanced analytics for fraud but adoption is forecast to more than double, and straight‑through claims processing is projected to climb from 14% to 50%. This combination of capital willingness and tech momentum is reshaping underwriting and claims workflows fast. ( )
Why does Insurers bullish on analytics matter?
WTW’s 2026 Advanced Analytics & AI survey found insurers with stronger analytics posted combined ratios six percentage points lower and premium growth three percentage points higher between 2022–2024. (finance.yahoo.com) The WTW study sampled 59 North American P&C carriers and drew responses from senior executives across analytics, actuarial and strategy functions. (insurancebusinessmag.com) Predictive pricing and underwriting models are effectively ubiquitous: about 80% of respondents already rely on advanced rating/pricing models and another ~11% plan to implement them soon. (finance.yahoo.com) Claims analytics lagged underwriting but is slated to catch up, with WTW reporting expected adoption in severity and fraud analytics rising to roughly 65–70% within two years. (finance.yahoo.com) More than half of surveyed carriers report current use of large language models/generative AI, while an additional 29% intend to adopt these tools within two years. (insurancebusinessmag.com) Only 16% of carriers currently use AI to augment underwriting decisions today, but 60% say they will prioritise that capability by 2028, and 42% cite data quality and IT bottlenecks as the top barriers to scaling analytics. (finance.yahoo.com) Conning’s 2026 Insurance Investment Risk survey shows 76% of U.S. insurers see improving investment opportunities for 2026 and many plan to increase investment risk into private markets and higher-quality fixed income. (businesswire.com)
