Forrester Predictions 2023: Insurance Report

Risk looks different in 2023 for insurance carriers. New and building pressure will express itself in changing priorities around technology investments. Digital transformation initiatives will continue at a much more modest rate as insurers turn to operational cost reducers like smart automation and application development. Depending on costs, some insurers will even learn to live with their tech debt if they’re still able to deliver on 2023 business goals.

The emergence of large language models has the entire finance world searching for potential applications in their digital transformation strategy. Regulators are stepping in to keep insurers on their toes as they turn up the heat on AI.

Read the report to learn more about:

• AI regulation in the US insurance market
• The change IT budgets for 2023
• The introduction of new non-insurance policies

In 2023, the EU and the US will put a low flame under consumer data protection regulations, instead turning up the heat on explainable AI and the potential for bias from the humans that train AI models.

Interested in more? Learn how better search technology increases security for financial organizations.