Genpact Study Shows Insurance Customers Embrace AI When Value and Benefits Are Clearly Demonstrated

Core Insights - The research by Genpact reveals significant uncertainty regarding AI adoption in the insurance industry, highlighting the need for insurers to convert customer skepticism into confidence and preference [1][2][3] Consumer Sentiment - A majority of US adult respondents (55%) feel neutral about their insurance companies using AI, while 25% view it negatively [2] - Customer acceptance of AI increases when it provides tangible benefits, such as faster claims processing (46% support), customized quotes, and improved customer service [2][3] Generational Differences - Younger generations, particularly Millennials and Gen Z, show a stronger preference for insurers using AI compared to Baby Boomers and Gen X, with 32% favoring AI for policy quote generation and 28% for claims processing [4] Trust and Expectations - Only 50% of respondents currently trust their insurer to provide accurate, tailored quotes, and 48% have faced challenges with the claims process [5] - There is a strong expectation for 24/7 live customer support (59%), but only 10% are comfortable relying solely on AI-powered chatbots [6] AI Integration Strategy - Insurers must align AI strategies with business goals and customer expectations to enhance customer experience [7] - Genpact emphasizes the importance of maintaining a human touch in AI interactions to build customer confidence and improve service [6][7] Research Methodology - The study was conducted by Dynata in December 2024, surveying 1,000 US adults aged 25 and older regarding their perceptions of AI in the insurance industry [10]