2026-08-28 · Source: Insurance Journal
Summary in 3 Points • JD Power study finds 29% of auto and home insurance customers use AI tools • 42% of customers who used AI to shop for new policies purchased one • Insurify's AI served over 196 million quotes within a week of launch --- JD Power's latest insurance study reveals that nearly one-third of auto and home insurance customers are utilising AI tools for various purposes, including researching products, servicing accounts, and shopping for new policies. The study highlights that AI is influencing decision-making, with 37% of customers changing their policy based on AI-provided information and 42% purchasing a new policy after using AI tools. Despite the rise in AI usage, the majority of customers remain hesitant due to unfamiliarity and lack of trust. Insurify's recent launch of an AI-powered app resulted in over 196 million quotes served, indicating significant traction in the industry.
The increasing use of AI in insurance could impact the London Market by altering how underwriters and brokers approach policy sales and customer interactions. As AI tools become more prevalent, there may be a shift towards more automated processes, potentially affecting traditional roles and commission structures. London Market professionals should consider how AI could influence risk assessment and pricing models, as well as the need to integrate AI-driven insights into their operations. Staying informed about AI advancements and customer preferences may be crucial for maintaining competitiveness in this shifting market.