London, United Kingdom--(Newsfile Corp. - March 27, 2025) - Reuters Events has published a new report, "The European Insurer's Digital Transformation Journey," examining the challenges and opportunities facing European insurers as they navigate digital transformation. The report highlights a potential lag in generative AI adoption among European firms compared to their global counterparts.
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The report utilises proprietary research to analyse key trends, investment priorities, and obstacles encountered by insurers in the region. Findings indicate that while data analytics and automation have been central to past technology investments, AI and generative AI are now dominating future technology roadmaps. However, the report also reveals that a significant portion of European insurers are still in the early stages of testing generative AI use cases. 81% of respondents from Europe have yet to move beyond testing use cases.
Other key findings include:
Customer experience is seen as the primary beneficiary of generative AI, though concerns around data privacy and security persist.
Insurers should not expect straightforward ROI from AI investments and should focus on alternative measures of success.
High costs, delays, and interoperability challenges are significant hurdles in technology procurement.
The report features commentary from industry leaders, including Simon Wilson, Chief Executive Officer, Markel Insurance; Arturo Lopez-Linares, Chief Claims Officer, AXA; Grace Flowers, Chief Underwriting Officer, Zurich Insurance; and Raphael Gusdorf, Chief Digital Officer, AG2R La Mondiale.
"The European Insurer's Digital Transformation Journey" is available for download at https://shorturl.at/dkm6M. The report is based on a survey of 54 insurance professionals based in Europe, conducted in December 2024-January 2025.
For additional information or inquiries about speaking opportunities, sponsorship, or attendance, please contact Emma Bowman, Global Project Director, Insurance at Reuters Events, at emma.bowman@thomsonreuters.com or call +44 20 7513 4164.
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