Christian Westermann, Group Head of AI at Zurich Insurance, is leading the charge in integrating artificial intelligence across the company's global operations. Westermann emphasizes the potential of generative AI to enhance customer service and streamline underwriting and claims management, despite the technology not altering the fundamental insurance coverage roles. AI's ability to process unstructured data and improve global insights is highlighted as a significant advancement, although it introduces new risks such as misinformation and increased fraud sophistication. Zurich Insurance's Responsible AI framework, implemented in 2022, underpins its approach, balancing AI value realization with risk management.
Westermann points out that the EU AI Act, which classifies AI applications by risk levels, influences insurance operations, with high-risk categories affecting areas like underwriting. He notes that while this regulation necessitates careful compliance, it does not significantly impede innovation. To ensure responsible AI use, Zurich Insurance provides employees with generative AI tools like ZuriChat and emphasizes training. Westermann’s experience shows that although generative AI accelerates solution deployment, organizational adaptation remains a key challenge.
