Risk models aren’t just actuarial artifacts anymore; they’re strategic assets. Or at least, they should be, and the use of AI is accelerating the opportunities.

According to PwC’s 2024 Global Risk Survey, 40 percent of insurance executives are increasing investment in technology specifically to improve data and analytics. At the same time, LexisNexis Risk Solutions reports that 80 percent of insurance companies are either already using artificial intelligence (AI) or are planning to roll it out within the next year.