Mass replacement of insurance jobs by robots within 5 years - report

The insurance industry will lose thousands of jobs - one in every five - to robots and automation, a KPMG report says today. More than half of the insurance decision makers surveyed predicted that 20% of jobs would be lost to automation and robots in next five years. "Sectors such as insurance are investing heavily in automation, with over half of IT leaders in this sector reporting that they are either piloting or implementing AI or machine learning," said Albert Ellis, chief executive of Harvey Nash, which partnered on the survey. "Claims processing, policy issuance, administrative tasks – these are all clearly functions ripe for AI." Insurance Times 2025 event will discuss talent and job replacement. Click here to find details and join the big day.