About 80% of insurance customers approve or are neutral about insurers using generative AI in their interactions, according to a Geneva Association study.

And nearly 70% of insurance customers have used the technology when purchasing insurance, the research shows. 

The study – questioning more than 6000 customers in China, Japan, France, Germany, the UK and the US – found everyday use of generative AI is growing, with respondents from the two Asian countries reporting the highest rates.

However, 40% of customers in France, the US and the UK are worried about a “loss of human touch”.

Respondents also expressed unease with the technology’s impact on privacy and data security, and 40% have questioned its accuracy and reliability.  

The Geneva Association says its findings show gen AI “should complement rather than replace human expertise”.  

The authors also note the need for dedicated AI governance teams.  

“As customers become more comfortable and engaged with GenAI tools, insurers have an opportunity to reimagine service delivery, strengthen transparency and create more personalised, value-driven relationships,” association digital technologies director Ruo Jia said.  

Association MD Jad Ariss says the success of AI will depend on its ability to foster the trust required between insurer and customer.  

“GenAI has the potential to enhance almost every stage of the insurance customer journey, but customers want assurance that fairness, accuracy and human empathy remain central to insurance processes,” he said.  

See the report here.