ARTIFICIAL INTELLIGENCE IN INSURANCE: REVOLUTION IN RISK ASSESSMENT AND POLICY UNDERWRITING

Emerging technologies, especially artificial intelligence (AI), are fundamentally changing the way companies assess risks, set policy prices and interact with customers. AI promises unprecedented efficiency, accuracy and personalization — but also brings ethical, operational and regulatory challenges. The profound transformations that mark the contemporary global economy are closely linked to the rapid advance of digital technologies. In this context, the insurance industry, traditionally perceived as conservative and rigid, is facing an inevitable revolution, generated by the emergence of advanced digital tools. Among these, artificial intelligence (AI) occupies a central place, through its potential to redesign the fundamental processes of the insurance business: from risk assessment and policy underwriting, to claims management and customer relations. The insurance industry is in an accelerated process of digital transformation, in which artificial intelligence (AI) plays a central role in reshaping operational processes and customer relations. This article examines the impact of AI on insurance and reinsurance management, highlighting the benefits and challenges of implementing these emerging technologies. The Allianz case study exemplifies how a global company is integrating AI to optimize underwriting, claims management, and service personalization, achieving significant competitive advantages. The strategic implications for organizational culture, change management, and data ethics are also discussed. The conclusions emphasize the importance of a holistic approach that combines technology with human factors and regulation to ensure the long-term sustainability and success of companies in the field.