Why Reinsurers are pushing for AI-powered Brokers

Author

Andrés Gutierrez
March 07, 2025

The AI revolution in Reinsurance: why speed is everything

AI adoption in insurance has grown 250% in the last five years. By 2027, it’s expected to be a $35.77B industry (McKinsey). The biggest risk in reinsurance today? Not the market—it’s brokers still stuck in manual workflows.

Reinsurers aren’t waiting for brokers to catch up. They’re demanding AI-powered brokers NOW.

Here’s why.

AI is transforming every industry, and reinsurance is next.

  • Banking: AI powers 70% of loan approvals.

  • Healthcare: AI predicts patient outcomes better than doctors.

  • Insurance: AI underwriting is projected to dominate by 2027.

Reinsurers are already prioritizing AI-powered brokers because the data is undeniable:

  • "AI adoption in insurance is expected to reach $35.77B by 2027." (Source: McKinsey)

  • "Brokers using AI close deals 30% faster." (Source: Andreessen Horowitz)

  • "Top reinsurers are prioritizing AI brokers over traditional brokers." (Source: PwC)

Reinsurers don’t “recommend” AI anymore—they require it.

What the future looks like: AI execution > speed

By 2030, brokers won’t compete on size.
They’ll compete on AI-driven execution.

The winners? Those who leverage AI to optimize pricing, automate compliance, and submit faster deals. The losers? Brokers still manually processing slips while competitors close deals in seconds.

"AI isn’t here to replace brokers—it’s replacing brokers who don’t use AI."

The harsh reality of traditional Reinsurance brokerage

Imagine a world where:

  • Slip processing happens in seconds.

  • Compliance is automated.

  • Every decision is backed by AI-driven risk analysis.

That world already exists—but only for brokers who have adopted AI.
Here’s what’s holding others back:

Problem #1: Slow brokers get left behind

Speed wins. The first broker to submit a quote wins priority.
But manual processes slow you down:

  • Formatting spreadsheets

  • Chasing down reinsurers

  • Cross-checking compliance

Brokers relying on spreadsheets lose 40% more deals than those using AI.

(Source: McKinsey & Company)

While you’re reviewing a contract, an AI-powered broker has already submitted the quote.

Problem #2: Manual work kills profitability

Brokers aren’t paid for paperwork—they’re paid for closing deals.
But instead of negotiating better terms, they waste hours:

  • Formatting slips

  • Checking reinsurer limits

  • Tracking responses

Every hour spent on admin work is an hour not spent making money.

AI-powered brokers save 20+ hours per week on manual tasks—enabling them to submit 3X more deals.

Problem #3: Compliance nightmares

One missing clause? One overlooked compliance rule?
That’s millions in risk exposure.

Reinsurers trust AI-backed compliance over human error.

AI ensures 99% accuracy in contract compliance, compared to 84% in manual reviews.

(Source: PwC Report on AI in Insurance, 2024)

Reinsurers are cutting out brokers who can’t guarantee compliance.

Case Study: The broker who lost $10M to AI

A mid-sized broker had a $10M deal on the table.
By the time their team processed the slip manually, an AI-powered competitor had already won the placement.

That was the moment they switched to AI.
In just six months:

  • Quote submission time dropped from 72 hours to 8 hours.

  • Reinsurer response rate increased by 40%.

  • Revenue increased by 28%.

This isn’t hypothetical—this is what happens when brokers stop fighting AI.

AI-Powered brokers: Why reinsurers are choosing AI

Reinsurers aren’t suggesting AI-powered brokers.
They’re demanding them.

Here’s why the fastest-growing brokers are all AI-powered.

1. AI-Powered Data Extraction Saves 80% of Time

Instead of brokers manually scanning emails and PDFs,
AI reads, extracts, and structures policy details in seconds.

📌 Example: A global reinsurance broker implemented AI-driven slip processing.
Quote submission time dropped from 48 hours to just 5 hours.

Brokers using AI-driven analytics report 30% higher efficiency.

(Source: Andreessen Horowitz, 2024)

2. AI-driven risk assessment = More competitive pricing

AI analyzes past claims, underwriting trends, and alternative risk indicators.
The result?

  • Fewer losses

  • More profitable deals

  • Better pricing accuracy

Reinsurers trust AI-backed risk models more than human intuition.

“AI adoption in insurance is expected to reach $35.77 billion by 2027.”

(Source: McKinsey & Company)

3. AI-powered compliance = No costly mistakes

Reinsurers are cutting out brokers who make compliance errors.
Brokers with AI? They’re getting higher-value placements.

  • AI scans every contract for missing clauses

  • AI flags regulatory issues before submission

  • AI keeps brokers 100% compliant—automatically

How to get started with AI in Reinsurance

Here’s your roadmap to AI integration:

Phase 1: Automate data entry (0-30 Days)

  • AI extracts policy details from emails in seconds

Phase 2: Implement AI risk analysis (30-60 Days)

  • Get data-backed underwriting decisions

Phase 3: Full AI Integration (60-90 Days)

  • Save 20+ hours per week and scale your brokerage

Final Call-to-Action: Every Deal You Lose Without AI is Gone Forever

The brokers winning today? They’re already using AI.
The brokers who refuse? They’re already falling behind.

The time to act is now.

  • Book a 10-minute demo today—see AI in action.

  • Cut your processing time in half.

  • Win more deals.

Sources