Gartner Research

Artificial Intelligence in Insurance: 5 Lessons From Early Adopters for Product Managers

Published: 04 October 2019

ID: G00450226

Analyst(s): Kimberly Harris-Ferrante , James Ingham

Summary

Most insurers lack the experience and insight needed for a successful AI project. Product managers can learn from the experiences of early AI adopters to help with adoption and implementation for a successful AI project.

Table Of Contents

Analysis

  • AI in Insurance: What Product Managers Can Learn From Early Adopters of a Promising but Early-Stage Technology
  • Lesson No. 1: No One Technology Is Right for All Insurers’ AI Needs, and AI Product Selection Is Unusually Difficult
  • Lesson No. 2: Ensure That Your AI Project’s ROI Targets, Metrics and Timing Are Clearly Understood by All Buyer Stakeholders
  • Lesson No. 3: Begin With a Small Use Case That Addresses a Real-World Problem and Can Deliver Measurable Results Reasonably Quickly
  • Lesson No. 4: Prepare to Work With End-User Clients With Varying Levels of Expertise and Enterprise Skills
  • Lesson No. 5: Reduce the Risk of Project Failure by Developing Tools That Support Insurers at Varying Stages of Data Mastery

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