Gen AI Risks for Businesses: Exploring the role for insurance

Authors: Ruo (Alex) Jia, Director Digital Technologies, Geneva Association; Martin Eling, University of St. Gallen; Tianyang Wang, Colorado State University

Generative AI (Gen AI) is reshaping how businesses operate, innovate, and interact with customers. This report, based on a survey of 600 firms in China, France, Germany, Japan, the UK, and the US, examines levels of adoption, awareness of related risks, and demand for insurance coverage.

For insurers, Gen AI presents both opportunities and challenges. Capturing its potential will require innovation, tailored product development, and collaboration with technology providers and regulators.

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