Survey: Revisiting Artificial Intelligence and Its Use by
Insurance Investment Managers

How have insurance asset managers changed their approach to utilizing A.I. since the original survey in 2024?

Two years ago, SAA conducted a survey focused on the ways insurance investment managers were beginning to consider or approach the use of Artificial Intelligence. Given the rapid changes that have occurred since then, SAA wanted to revisit the topic to see what’s changed since the original survey, as well as better understand the advancements and limitations that managers have come across.

The original survey primarily focused on how insurance asset managers were researching, developing, and implementing A.I. into its operations, and in turn, improving the portfolio management services they provide. In revisiting the topic, we once again asked these same questions to see how responses have changed, but also asked how firms are approaching A.I. from a policy, integration, and philosophy perspective.

Download PDF >>

Executive Summary:

• The most common theme across participating firms: A.I. supports workflows and research, but is not involved in any direct investment decision-making, such as security selection, investment policy exceptions, trade execution, etc.
• Human oversight over A.I. outputs and usage has essentially become an industry requirement.
• Microsoft Copilot continues to be the most utilized third-party A.I. tool / service provider, with Bloomberg A.I. on the rise.
• While some firms are starting to look at other (possible) uses cases, research support and parsing large data sets are still seen as the most useful applications of A.I.
• The central focus of every firm’s A.I.-Use Policy is data privacy and security.
• As it relates to training staff on A.I., there’s no single, dominant focus or practice shared across firms, but common themes include data privacy practices, ethical use of A.I., and effective prompting.
• In two-three years, most firms expect A.I. will improve the implementation of their investment philosophy, but don’t expect it to have any effect on the philosophy itself.
• Most firms don’t feel any direct pressure from competitors to adopt A.I., noting any pushes to implement it would likely come from internal or client expectations.

About SAA >>