Welcome | Insurance Innovators Trends Report 2025

From the insights shared by the expert speakers at Insurance Innovators Summit, and the discussions in our recent Advisory Board meeting, we’ve selected the 10 key trends driving the insurance industry in 2025.

WELCOME FROM
INSURANCE INNOVATORS

It’s been another incredibly busy year for the insurance industry. We’ve seen rate increases starting to take effect and push the industry towards profitability in lines which have been battered by inflation and supply chain issues such as motor, we’ve seen some very significant acquisitions and divestments which will change the shape of the market, and, of course, some exciting and cutting-edge innovation.

This year has been about walking the walk as well as talking the talk. For years we’ve heard the promises around new technologies – and especially all of the AI and genAI hype. However, we’re seeing these technologies mature, and insurers working on getting them out of pilots or innovation labs and using them to drive genuine business value. This theme is taken up by FICO in their Viewpoint just below.

I’d like to say a huge ‘thank you’ to all the speakers and sponsors at Insurance Innovators Summit 2024, along with our Advisory Board, without whom neither the event nor this Report would have been possible. We’re grateful to FICO for their support.

AND FINALLY, 'THANK YOU' TO YOU,
THE READER!

JAMES HEALEY
HEAD OF CONTENT,
INSURANCE INNOVATORS

DARRAN SIMONS
HEAD OF INSURANCE, EMEA, FICO

It’s good to talk. But sometimes it’s better to do. And that’s where AI is now, with more and more companies talking less and doing more, a signal of this transformative technology’s fast-growing maturity. As a result, business conversations at events like Insurance Innovators are focused back on the business and, more specifically, on the customer.

This renewed customer focus is partly driven by generative AI, which, combined with more traditional applications of AI and decision intelligence, has the potential to enable insurers to do so much more, so much faster, and with much more personal impact. The other driver is strategic: insurance companies are seeking ways to offer additional value that transcends the transactional and transient interactions that characterise most customer-insurer relationships. Delivering value through tailored services and experiences, particularly those that help manage and contain risk in an increasingly complex and uncertain world, is where insurers can carve out more profitable and sustainable operations, whatever the future may hold.

This push towards more personalised products and experiences converges with another key industry trend: composability. This is the enabling architecture that can help insurers ingest more data, adapt rapidly to changing market conditions and develop more granular and finely tuned propositions. By leveraging the best of the new and the best of their legacy tech stack, insurers can use composable modular capabilities, like those found in FICO Platform, to turbocharge personalisation, CX and operations.

This matters because insurers face more challenging market conditions, and composability is a way to deliver fantastic customer experiences, compete at speed and invest in re-usable and repeatable solutions that work even when budgets are tight. The result is a strong and sustainable return on investment, with impact that can be seen by both the customer and the business, priming operations to capitalise on the inevitable rebound in industry fortunes. Those that do, rather than talk, will be those primed to succeed.

Darran Simons, Head of Insurance, EMEA, FICO