As insurance executives plan for the new year, what’s top of mind? What areas are ripe for innovation? McKinsey Senior Partners Jörg Mußhoff and Fritz Nauck discuss these and other topics.
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The insurance industry is going through changes, many of which are fueled by developments in AI. In this episode of the McKinsey on Insurance podcast, Jörg Mußhoff and Fritz Nauck, McKinsey senior partners and coleaders of the Insurance Practice, sat down for a discussion at the 2023 InsureTech Connect conference in Las Vegas. They talked about the trends and innovations they’re seeing in Europe and North America as well as globally, including a push for productivity, a focus on distribution and the end customer, the rearrangement of operating models and approaches to data, and the role of AI and generative AI (gen AI) across these themes. The following transcript has been edited for clarity.