The advent of GenAI and agentic AI represents the most dynamic change to the user-computer relationship since the advent of the smartphone. And as with the smartphone, there will be fits and starts: Things may look rosy for a while with certain lines of business in certain populations, and then not map cleanly onto different customer bases. Or, AI may be able to handle certain tasks without breaking, but require a human hand to get over the finish line to a bindable policy.

Whatever happens, insurers need to take advantage of what's on the table now to sharpen underwriting, manage claims, and everything in between on the insurance value chain – while understanding that the fundamental way carriers interact with technology is flux.

In this environment, tech trends are not distinct from each other tactically – across insurance, practice areas are looking to leverage the same advanced AI. Rather, it's the maturity of AI across the value chain that sets the distinction. In some areas – like system modernization – AI is revolutionizing the way coding and configuration work. In others, like distribution, benefits are still limited as insurers and agents tease out what's appropriate to put in front of customers.