@taskmaster4450le's thread

Cape’s exit comes as the insurance industry ramps up its adoption of AI and predictive analytics technologies. A 2024 survey by Conning, an insurance asset manager, found that 77% of insurers are in some stage of deploying AI, a 16-percentage-point increase from the previous year. By one estimate, the global AI in insurance market will be worth $79.86 billion by 2032.

Critics warn that AI technology could introduce biases and discriminatory decision-making into underwriting. Yet many insurers are forging ahead, spurred by AI’s promise to speed up claims processing and increase overall efficiency.