As AI continues to disrupt the insurance industry, it's tempting to take a step back and watch from the sidelines. Some may even argue that resisting AI is the prudent path forward, hoping to maintain the status quo in the face of rapid change. However, the reality is that AI is here to stay, and its impact on our sector will only continue to grow. The genie is out of the bottle, and it's up to us as leaders to actively shape how this technology is implemented and applied.

Passively standing by or saying "no" to AI is not a viable strategy. If we fail to engage with this technology proactively, we risk being left behind by competitors who are willing to embrace innovation and adapt to the changing landscape. More importantly, we miss out on the opportunity to influence the direction of AI in insurance, ensuring that it aligns with our values and the best interests of our customers.

Instead of resisting AI, we must lean into it. This means educating ourselves and our teams about the capabilities and limitations of these tools, and collaborating across the industry to establish best practices and ethical guidelines. It means being willing to experiment and iterate, learning from both successes and failures as we integrate AI into our operations.

By taking an active role in shaping AI implementation, we can harness its power to transform the insurance experience for the better. We can use AI to streamline claims processing, providing faster and more accurate resolutions for our customers. We can leverage AI insights to develop more personalised products and services, tailored to the unique needs of each policyholder. And we can employ AI to identify and mitigate risks proactively, ultimately creating a more resilient and sustainable industry.

However, achieving these benefits requires a collective effort. We need leaders across the insurance sector to step up and engage in the conversation around AI. We need to share our experiences, our successes, and our challenges, learning from one another as we navigate this uncharted territory. And we need to prioritise ethics and empathy at every stage of the AI journey, ensuring that the technology we deploy serves to enhance, rather than replace, the human touch that is so essential to our business.

The future of insurance is being shaped by AI, whether we like it or not. The question is, will we let that future be shaped by others, or will we take an active role in defining it ourselves?