Stop Building a Faster Version of Yesterday

Following the InsTech.ie Transformation Summit, Resolve reflects on why insurers need to move beyond AI-driven efficiency and use richer individual data to design the next generation of products. Click here to listen to the whole conversation

“A faster version of yesterday is a dangerous place to be when your competitors are building a better version of tomorrow.”

Insurers are about to gain the richest view of the individual they have ever had. Open Banking through PSD2 is already live, Open Finance is approaching, and AI has made publicly available data cheaper and easier to interpret at scale. At the same time, in Ireland, insurers risk being designed out of auto-enrolment and potentially the Savings and Investment Union.

The opportunity and the threat are arriving together: more data than ever, and a real chance of being cut out of some of the products that data could serve.

Resolve has run many hackathons with ExCos and boards of insurers, and most are aiming AI at cost: faster underwriting, faster claims, and a leaner back office. This is worthwhile, but it is still a faster version of yesterday.

Very few are feeding this richer view of the individual back into what they actually build. The data is not just an efficiency tool; it is a signal about what tomorrow’s products should be.

The competitive edge will not come from who holds the most data or has the smartest model. Everyone will have both. It will go to whoever can turn that flood of information into decisions they can govern, defend, and trust, and then design around at speed.