Firms urged to retrain workers replaced by AI
Insurance companies must retrain workers whose jobs are displaced by artificial intelligence, the head of a major industry trade group stated. The sector has not yet made that transition a priority.
AI investment surges, but workforce plans remain limited
Mike Keating, chief executive of the Managing General Agents’ Association, said the industry has been slow to create retraining programs for employees whose roles are automated. Speaking to Insurance Times, he said the sector was not as far along as it should be.
A KPMG survey of 110 global insurance CEOs, released in January 2026, found that 67% expected a return on AI investment within one to three years—up from 21% in 2024. Some 77% said an AI-ready workforce was critical to growth.
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Keating noted that while AI will take over repetitive tasks, the industry has not fully considered the human impact. He said the sector must acknowledge that automation will reduce headcount. He added that the industry has an obligation to retrain individuals whose jobs may be affected, as they can still add value in different roles. Companies that cut staff too quickly could find themselves struggling if AI fails to meet expectations.
Underwriters seek tools, not job cuts
Underwriters have experienced an uneven shift toward AI. A 2025 report from Sollers Consultancy found that 30% of insurance firms had either implemented or were rolling out AI workflows in underwriting. Industry leaders insist the technology should assist, not replace, human judgment.
Andy Hurrell, founder of Corin Underwriting, said AI can help underwriters work more efficiently, but brokers still rely on human expertise for complex risks. He emphasized responsible use while maintaining the judgment and relationships the market requires.
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Alison Williams, managing director at Prestige Underwriting, shared a similar view. She said the best underwriters want better tools, not fewer. Her firm’s investments in data and pricing technology aim to improve decisions, not remove them. Technology should reduce friction, increase speed, and let underwriters focus on risks where their expertise matters most.
The drive for AI adoption continues. As companies integrate the technology, the challenge will be adapting their workforce at the same pace.
