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W. R. Berkley says AI is driving 20%+ underwriting efficiency gains
The insurer also aims to use AI to support claims straight through processing, with about 50% of claims settling for $5,000 or less.
W. R. Berkley Corporation CEO Rob Berkley said the company is already seeing efficiency gains of more than 20% from artificial intelligence in its underwriting operations. He said the work is focused on underwriting workbenches and digitising processes from intake through to quote, during the firm’s Q2 2026 earnings call, according to Reinsurance News.
Berkley also highlighted AI’s potential to improve claims handling, including moving toward straight through processing where appropriate. He noted that the firm’s claims profile shows approximately 50% of claims settle for $5,000 or less, describing how the use of targeted technology can provide a more timely solution for claimants.
The CEO said the company expects to generate returns from its AI investments, while emphasizing it does not plan to build its own large language model. Berkley said the firm will instead use third party AI tools and layer on its own approach, and it is experimenting through its 60 laboratories across its businesses to identify and scale the best solutions, with more developments planned on underwriting and claims.
No additional financial figures or guidance were provided in the reporting beyond the efficiency and claims process goals discussed during the call.