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We conducted a study of 22 specialty and reinsurance carriers and all participants agreed that Gen AI is going to be transformational in the longer term (5+ years)

Insurers of all shapes and sizes are considering how to generate value from AI and Gen AI. The answer will vary across different segments. In the retail insurance markets, executives are excited about the impact of creating personalised marketing content for social media platforms (think thousands of artificially produced TikTok videos targeting specific micro-segments) or enhancing contact centre interactions.

We believe that humans will remain at the core of the specialty and reinsurance business for the foreseeable future and so specialty insurers and reinsurers will exploit use cases that enhance the machine-to-human interface. Use cases will be anything from bordereaux ingestion to claims file summarisation. Benefits will be found in both the loss ratio and expense ratio.

Is this just another blockchain? We believe not. Oxbow Partners was unstirred by previous technology and InsurTech trends like blockchain and peer-to-peer models. But on AI and Gen AI in particular we are bullish.

What is really going on behind the headlines? How advanced are carriers with their AI initiatives in reality? Where are the greatest opportunities? What are the challenges that peers are struggling with? Should carriers lead or follow the market?

Miqdaad Versi-1-1

Miqdaad Versi


Miqdaad leads strategy and operations projects for some of the world's largest (re)insurers. Graduating with a first class degree in Mathematics from the University of Oxford, Miqdaad has a strong technical skillset, allowing him to dig beneath the surface to uncover the real problems facing the executive teams with whom he is working. He balances strategic and market knowledge with pragmatism to drive towards solutions that deliver for his clients. He is a regular commentator on the topic for industry seminars, podcasts and summits, and often provides comments to the press on topical issues.

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About us

Oxbow Partners is a specialist management consultancy exclusively serving the insurance industry. Our clients include leadership teams at the world’s leading insurers, reinsurers, brokers and private equity firms. 

Our consulting engagements span across strategy, operations, technology, transformation and M&A. Our Market Intelligence team offers unique analysis into the UK market and global reinsurance. Senior executives choose Oxbow Partners when they want a fresh perspective from a high-calibre team of industry specialists that thinks deeply about each client’s unique situation and has a track record of delivering insight and impact.

Since 2021 we have been featured as a leading UK management consulting firm by the Financial Times. In 2023 we became a B Corp, indicating our commitment to balance purpose and profit.

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