Mauricio Giraldo

The generative AI insurance market is projected to reach $14.35B by 2035, with ~29% CAGR expected across 2026-2035, as adoption accelerates industrywide.
Automation is reshaping document analysis, helping insurers process policy contracts, claims forms, and customer communications faster while reducing errors and administrative costs.
Advanced large language models are moving AI beyond chatbots, supporting underwriting analysis, claims evaluation, and more personalized customer interactions with contextual responses.
Machine learning leads by technology, fraud detection and credit analysis lead applications, and cloud deployment dominates because advanced models need scalable infrastructure.
Adoption is becoming a strategic necessity as insurers seek efficiency, better risk evaluation, optimized claims management, and stronger profitability amid financial pressures.

Insurance Generative AI Targets $14.35B

Convertible term life lets policyholders move into permanent coverage without a new medical exam or other evidence of insurability during an eligible conversion period.
If no conversion happens, a nonrenewable term policy ends at expiration; permanent options may include whole, universal, or variable life coverage types.
Conversion can help when health changes make new coverage harder, or when cash value and updated death-benefit conditions matter for loved ones.
Trade-off: premiums may become 5 to 15 times higher based on conversion age, with less rider or coverage flexibility than buying new.
Some insurers allow partial conversion, and related choices include renewable term, accidental death coverage, or long-term care protection for different needs and preferences.