The property/casualty insurance industry has made artificial intelligence a top strategic priority for three consecutive years. It has invested accordingly. And it has, by most objective measures, very little to show for it operationally.
Executive Summary
The carriers that are winning with AI didn't find the right single solution. They stopped looking for one, asserts Bill Devine, co-founder and managing partner at Naitiv.Here, he lays out three mistakes that carriers who don't succeed with AI are making— searching for a single solution, trying to fit AI into workflows designed for a different era, and building governance models around individual AI agents instead of outcomes produced by cumulative actions of many agents and humans—and proposes a new playbook built for an AI future.
For an industry that treats AI as an existential strategic imperative, these numbers represent a fundamental failure of execution. And most of all there is no credible public example where AI today is meaningfully accretive to any carrier’s bottom line.
