'Increased transparency is vital for AI adoption in specialty lines market'

Artificial intelligence (AI) represents a transformational opportunity for insurers. Data and analytics have always been central to the industry. The increasing maturity of AI techniques and the explosion of data from new sources such as wearables and devices connected to the internet of things (Iot) are turbo­charging that opportunity.To date, personal lines have been at the forefront of many of the industry’s efforts in AI adoption. In comparison, large corporate and specialty insurers face a number of barriers ( see box).