Research from Open GI has found as many as 80% of insurance brokers have yet to implement AI into their business, with the software house warning of a “gulf” between the progress of national brokers and smaller regional firms when it comes to gaining an advantage from early AI adoption.
Broker sizes
Open GI detailed that:
National brokers are those who have multiple offices and a national presence. Typically, this is the top 50 UK brokers, based upon GWP.
Regional brokers are those who have more than one office but not a national presence. Typically, these are the top 50–250 brokers based upon GWP.
Provincial brokers have a single office and outside the top 250 brokers by GWP.
According to the technology specialists, around 45% of national brokers said they had implemented some AI
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