Today, we’re thrilled to sit down with Simon Glairy, a renowned expert in insurance and Insurtech, particularly in the realms of risk management and AI-driven risk assessment. With years of experience guiding insurers through the complexities of digital transformation, Simon offers a unique perspective on how technology is reshaping the industry. In this conversation, we dive into the evolving landscape of digital tools, the critical role of culture in tech adoption, the emergence of Agentic AI, the urgency of cloud migration, and the practicalities of implementing AI solutions. Join us as we explore how insurers can balance innovation with the human element to stay competitive in a fast-changing world.
How is digital transformation reshaping the insurance industry today?
I believe digital transformation is fundamentally changing how insurers operate, from streamlining processes to enhancing customer experiences. We’re seeing a shift toward data-driven decision-making and automation, which allows companies to respond faster to market demands. But it’s not just about tech—it’s about rethinking business models to stay relevant in a digital-first world.
What are some of the toughest hurdles insurers face when integrating new digital tools?
One of the biggest challenges is legacy systems. Many insurers are stuck with outdated infrastructure that doesn’t play well with modern solutions, leading to costly and slow transitions. On top of that, there’s often a skills gap—finding or training staff to handle new technologies can be a real struggle. And let’s not forget the regulatory maze; ensuring compliance while innovating is a tightrope walk.
How can insurers ensure they keep their people and culture at the core during these tech shifts?
It starts with communication. Leaders need to be transparent about why changes are happening and how they benefit everyone, not just the bottom line. Involving employees early—getting their input and addressing fears—builds trust. Also, investing in upskilling programs shows a commitment to their growth, which helps maintain a positive culture even amidst disruption.
Why is company culture so vital to the success of digital transformation?
Culture is the glue that holds everything together during change. If employees aren’t on board, even the best tech won’t deliver results. A culture that embraces adaptability and learning can turn challenges into opportunities. It’s about creating an environment where people feel safe to experiment and fail, knowing that’s part of progress.
Can you share a story of how focusing on people made a digital project more successful?
Absolutely. I worked with a mid-sized insurer rolling out a new claims processing system. Initially, there was a lot of pushback from staff who felt overwhelmed by the change. The leadership team decided to slow down, host workshops, and pair tech-savvy employees with those less comfortable. This peer support, combined with celebrating small wins, shifted the mood. Within months, adoption rates soared, and claims processing time dropped by 20%. It showed me how much morale matters.
What steps can leaders take to keep their teams motivated during major tech overhauls?
First, set a clear vision—explain how the tech ties to the company’s future and their role in it. Regular check-ins, where you listen more than talk, help gauge sentiment and address concerns. Recognition goes a long way too; highlighting individuals or teams who adapt well boosts morale. Finally, provide resources like training or mental health support to ease the stress of change.
Let’s talk about Agentic AI. What does this concept mean to you, and why is it a big deal for Insurtech?
Agentic AI is the next frontier—it’s AI that doesn’t just analyze data but acts autonomously to solve problems or make decisions. In insurance, think of it adjusting premiums in real-time based on emerging data or flagging new risks before they become losses. It’s a game-changer because it moves us from reactive to proactive, saving time and reducing human error.
How does Agentic AI stand apart from the traditional AI tools insurers have used?
Traditional AI in insurance often focuses on predictive analytics or pattern recognition—like spotting fraud in claims data. Agentic AI goes further by taking action without waiting for human input. For instance, it might automatically tweak underwriting criteria based on live market trends. It’s less about insights and more about execution, which is a huge leap.
In what specific ways can Agentic AI influence areas like premium adjustments or underwriting?
It can analyze vast datasets—think IoT from connected devices or social media trends—and adjust premiums almost instantly to reflect real-time risk. In underwriting, it can approve or flag applications by weighing factors humans might miss, like subtle behavioral shifts in data. This speeds up processes and makes pricing more accurate, which benefits both insurers and customers.
What do you see as the key benefits of Agentic AI in insurance operations?
The biggest win is efficiency. It automates complex tasks, freeing up staff for higher-value work like customer engagement. It also sharpens risk assessment by identifying patterns or threats faster than any manual process could. Plus, it can personalize offerings—tailoring policies to individual needs based on dynamic data, which boosts customer satisfaction.
Are there any downsides or risks to leaning heavily on Agentic AI for critical decisions?
Definitely. One concern is over-reliance— if the AI’s logic isn’t fully understood or it’s fed biased data, decisions could be flawed, leading to unfair pricing or denied claims. There’s also the ethical angle; customers might feel uneasy about machines having so much control. And if something goes wrong, accountability becomes murky. It’s crucial to have human oversight and clear guardrails.
Turning to cloud migration, why is it such a pressing issue for insurance leaders right now?
Cloud migration isn’t optional anymore—it’s a survival tactic. Insurers who move to the cloud gain agility, scalability, and cost efficiency, which are critical in a competitive market. It’s also the backbone for modern tech like AI; without cloud infrastructure, you can’t handle the data volumes or processing power needed for cutting-edge solutions.
What tangible advantages have you seen from insurers adopting cloud technology?
The numbers speak for themselves—some cloud-first insurers cut time-to-market for new products by nearly half. Infrastructure costs can drop by a third since you’re not maintaining expensive on-site servers. It also enables remote collaboration, which became a lifeline during the pandemic. Most importantly, it lays the groundwork for real-time analytics and personalized services.
How does cloud technology pave the way for stronger AI capabilities in insurance?
AI thrives on data, and the cloud offers the storage and computing power to process massive datasets instantly. It allows insurers to run sophisticated models for risk prediction or customer segmentation without crashing systems. Plus, cloud platforms often come with built-in AI tools, making integration smoother and faster for companies just starting out.
What are the most common obstacles insurers face when transitioning to the cloud?
Data security tops the list—moving sensitive customer info to the cloud raises valid concerns about breaches or compliance issues. Then there’s the complexity of migration itself; untangling legacy systems can take years and millions of dollars. Internal resistance is another hurdle—some teams fear losing control or worry about job security when operations shift.
How can tech leaders address hesitation or pushback from their teams during cloud migration?
It’s all about education and involvement. Show them the ‘why’ behind the move—how it makes their work easier or more impactful. Bring key staff into planning sessions so they feel ownership over the process. Pilot projects can help too; starting small and showing quick wins builds confidence. And don’t underestimate the power of a strong change management plan to guide them through uncertainty.
Can you describe what a successful AI implementation looks like in the insurance space?
Success means AI delivers measurable value without disrupting core operations. For example, an insurer might use AI to automate claims processing, cutting turnaround time by 30% while maintaining accuracy. It’s also about seamless integration—employees should see AI as a tool that helps, not hinders. And crucially, there’s trust; customers and staff alike need to feel confident in how AI decisions are made.
What’s your forecast for the future of AI in the insurance industry over the next decade?
I think AI will become the backbone of insurance, embedded in every process from underwriting to customer service. We’ll see even smarter systems—think Agentic AI on steroids—making decisions with minimal human input while staying transparent and ethical. Personalization will hit new heights, with policies tailored in real-time. But the challenge will be balancing innovation with regulation and trust. If we get that right, AI could redefine what insurance means to people.
