AIG uses generative AI to speed underwriting
AIG
AIG is using large language model technology to modernize underwriting as part of its AIG Next enterprise transformation. CEO Peter Zaffino said early pilots improved data collection and accuracy rates in underwriting from near 75% to upwards of 90%, while reducing processing time significantly. AIG has invested approximately $300 million in data, digital workflow, AI and talent over two years, and more than $1 billion on foundational data technologies over the last half decade, and plans to open a new data engineering and AI operations facility in Atlanta in 2026.
Overview
AIG is using large language model technology to modernize underwriting as part of its AIG Next enterprise transformation. CEO Peter Zaffino said early pilots improved data collection and accuracy rates in underwriting from near 75% to upwards of 90%, while reducing processing time significantly. AIG has invested approximately $300 million in data, digital workflow, AI and talent over two years, and more than $1 billion on foundational data technologies over the last half decade, and plans to open a new data engineering and AI operations facility in Atlanta in 2026.
The challenge
AIG is modernizing its underwriting process as part of a broad enterprise simplification and technology transformation initiative called AIG Next, launched as the company divested a majority share in life insurance and retirement subsidiary Corebridge Financial.
The solution
AIG is using large language model technologies to drive digital transformation in underwriting. Its GenAI ecosystem integrates proprietary data from multiple sources with data ingestion capabilities to give better data quality in a fraction of the time, and the company is working to further develop its agentic GenAI ecosystem.
Reported business value
In early pilots, AIG saw data collection and accuracy rates within underwriting processes improve from levels near 75% to upwards of 90%, while reducing processing time significantly. AIG has invested approximately $300 million in data, digital workflow, AI and talent over the last two years, and spent more than $1 billion on foundational data technologies over the last half decade. The company plans to open a new data engineering and AI operations facility in Atlanta in 2026, where it aims to bring underwriting, claims and operations together to incubate digital capabilities.
Sources
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