The insurance industry is undergoing a profound transformation driven by artificial intelligence. Traditionally, underwriting and claims processing have relied heavily on manual efforts, constrained by the complexity and unstructured nature of risk data. AI, particularly generative AI, is now changing this by enabling insurers to process vast amounts of disparate information with unprecedented speed and accuracy. 

This shift is not just about automation—it is about fundamentally enhancing decision-making, allowing insurers to assess and mitigate risk more effectively while scaling operations in ways that were previously impossible.

Richard Hartley, CEO of Cytora, joined InsurTech Amplified to explore how AI is revolutionizing risk assessment, underwriting, and claims processing in the insurance industry. He discusses how generative AI eliminates long-standing scale constraints by structuring unstructured data, enabling insurers to evaluate risk more accurately and efficiently. 

By automating manual tasks, AI not only enhances underwriting decisions but also empowers insurance professionals to focus on strategic, high-value activities. Richard emphasizes AI’s role in shifting insurance from a reactive to a proactive industry, where new products and risk segments can be identified and developed at scale.