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. ( )
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)
