Digital Transformation Consulting

QBE Insurance Group, a multinational insurer, faced significant challenges in its underwriting processes related to slow market response times and inefficiencies in handling broker submissions. To address this, QBE scaled AI-powered underwriting solutions co-developed with Accenture, enabling it to process 100% of broker submissions in product lines with active AI solutions. This implementation greatly accelerated QBE’s ability to respond to market demands, improving operational speed and decision accuracy.

The strategic approach involved three key steps. First, QBE adopted agentic AI, organizing goal-oriented AI agents that can access external data and tools, allowing underwriters to collaborate efficiently with autonomous AI teams and delegate tasks effectively. Second, the company invested in a robust talent strategy supported by process reinvention, emphasizing workforce development to optimize AI integration, improve productivity—projected to be up to 30% in gains—and attract younger talent by repositioning insurance as a purpose-driven, innovative industry. Third, QBE fostered a human-AI collaboration model, maintaining human oversight and involving underwriters in training and refining AI systems, thereby ensuring responsible and effective AI use.

Quantifiable benefits included the ability to process 100% of broker submissions, drastically reducing market response times, which enhances customer satisfaction and market competitiveness. This AI integration also positioned QBE as an early adopter of advanced underwriting technology, setting a roadmap for transforming underwriting into a more dynamic, efficient, and impactful function aligned with the evolving insurance landscape.