The rapid adoption of generative AI is radically transforming how professionals deliver services in a way we have not seen since the dawn of the internet. The type, extent and severity of the professional indemnity claims of tomorrow will be the product of this technological revolution which will in turn impact on the risk profiles of firms. Insurers will need to respond and adapt their underwriting processes and appetite for risk and opportunity. There are no simple answers to what the professional indemnity landscape will look like as the pace of AI adoption continues and will turn on a panoply of factors across sectors. What we do know is that change is coming and the insurance market will need to reflect, plan and adapt.
Our FutureProof series will look at a whole range of issues including:
- How professionals across a range of sectors are already using AI and how AI is likely to change the way those professionals work in the future
- The benefits and risks to professionals of using AI
- How the use of AI may change the claims landscape for professional indemnity insurers and the issues that insurers need to be thinking about now
- The regulatory landscape surrounding the use of AI by professionals
- How the law of professional negligence might develop as a result of AI
- What all of this means for professionals and their insurers
It is designed to be of interest to anyone connected with the professional indemnity market – including professionals, brokers, insurance underwriters and those that handle claims against professionals when they arise.
As the series develops, we’d also love to hear from you with your own thoughts and insights.
