Digital Transformation Consulting

QBE Insurance Group, a multinational insurer based in Sydney, addressed specific challenges in its underwriting operations by scaling AI-powered underwriting solutions developed in partnership with Accenture. Prior to implementation, the company faced difficulties in processing a high volume of broker submissions efficiently, which slowed response times and hindered quick market adaptability. By deploying these AI-driven solutions, QBE was able to achieve a significant operational breakthrough: it now processes 100% of broker submissions for the product lines in production, vastly accelerating response times and enhancing market responsiveness.

The tailored AI strategy involved three key steps: first, leveraging agentic AI—goal-oriented models capable of autonomous decision-making and task delegation through multimodal foundation models—leading to faster workflows; second, supporting the workforce with a robust talent strategy focused on automation and process reinvention, including investing in data synthesis platforms that transform unstructured and external data into actionable insights; and third, fostering a human-in-the-loop approach that emphasizes continuous learning, collaboration, and responsible AI use. This approach not only optimized the underwriting automation process but also aimed to attract and develop talent by highlighting the societal and innovative impact of insurance work, appealing to Gen Z employees.

As a quantifiable result, QBE’s implementation of AI solutions has substantially improved its underwriting efficiency and agility. The company now benefits from faster processing of broker submissions, leading to quicker market responses and an enhanced competitive edge. This case illustrates how a targeted, technologically advanced approach can transform legacy underwriting systems into agile, data-driven processes, providing a clear pathway for other insurers seeking similar outcomes in operational efficiency and market responsiveness.