2026-10-23 · Source: Carrier Management
Summary in 3 Points • Insurers are increasingly adopting AI, but trust in data remains a significant challenge for decision-making. • Regulators are expected to scrutinise AI applications, demanding evidence and accountability from insurers. • ACORD Solutions Group aims to bridge old and new systems, facilitating digital transformation without forcing platform changes. --- Insurance companies are moving towards the next phase of AI adoption, focusing on agentic AI and automation. However, trust in the data that supports these technologies is crucial, as insurers face challenges in justifying AI-driven decisions to regulators. Chris Newman, CEO of ACORD Solutions Group, emphasised the importance of verified data sources to ensure accountability in AI applications, particularly as regulatory scrutiny increases. Newman highlighted that many insurers have invested heavily in their existing systems, making it difficult to transition to new platforms. ACORD Solutions Group aims to facilitate communication between different systems, allowing insurers to digitalise without losing their investments. This approach helps establish a digital foundation while enabling carriers to rethink their workflows and operating models, ultimately leading to a more efficient insurance industry. Insurers must ensure data trustworthiness as AI adoption grows, impacting compliance and operational efficiency in areas like claims processing.
Insurers must ensure data trustworthiness as AI adoption grows, impacting compliance and operational efficiency in areas like claims processing.