Artificial Intelligence

Executive Summary: A CEO's Strategic Guide to AI

Artificial Intelligence (AI) is rapidly transforming the life insurance industry, offering unprecedented opportunities for innovation, efficiency, and customer engagement. For small to midsize carriers, AI presents both a strategic advantage and a manageable risk.

Read the Full CEO's Strategic Guide to AI

This executive summary provides a pragmatic, step-by-step overview for CEOs to adopt AI responsibly — without requiring large-scale infrastructure, deep technical teams, or high-cost investments.

Strategic Imperatives

AI is not optional: It’s embedded in customer expectations, vendor platforms, and operational workflows.

Small carriers must do more with less: Lean teams, vendor reliance, and tight budgets demand a focused, scalable approach.

AI is a business enabler: Not a tech initiative. It should be aligned with strategic goals like operational efficiency, customer satisfaction, and growth.

10-Step AI Playbook Framework

Vision & Strategic Objectives
Anchor AI to business goals. Focus on measurable outcomes like cost reduction, improved agent satisfaction, and faster quote-to-bind.

Readiness Assessment
Evaluate culture, data, tech, talent, and vendor relationships. Use the AI Project Lifecycle (AIPL) to identify gaps and prioritize.
Use Case Prioritization
Start small. Focus on high-impact, low-risk use cases like document ingestion, chatbots, and email routing.
Operating Model
Default to “Buy” or “Partner” over “Build.” Leverage existing vendor ecosystems and SaaS platforms.
Vendor Governance
Ensure transparency, explainability, and compliance. Maintain an AI inventory and ask vendors the right questions.
AI Governance
Implement lightweight but effective oversight. Use the AI Risk Classification Framework (AIRC) and AIRE frameworks to classify and manage risk.
Change Management
Communicate clearly, address employee concerns, and celebrate small wins. Build trust and transparency.
Talent Strategy
Upskill internal champions. Use fractional experts and promote AI literacy across the organization.
Data Management
Treat data as an asset. Ensure quality, privacy, and stewardship. Appoint data stewards and monitor bias.
Scaling & Continuous Improvement
Track ROI, sunset low-value use cases, and iterate. Use dashboards to monitor adoption, impact, and feedback.

Actionable Steps for CEOs

Identify AI Champions: Empower curious, motivated staff to lead adoption.
Build a Hybrid Team: Combine internal domain experts with external advisors.
Focus on Upskilling: Promote AI literacy, not deep tech skills.
Leverage Partnerships: Use LIMRA/LOMA resources, fractional CIOs, and academic institutions.
Establish Governance: Form an AI committee, adopt safe use policies, and monitor regulatory changes.

Conclusion

AI is not a replacement for human intelligence — it’s a strategic lever to amplify it. Success lies in thoughtful leadership, responsible governance, and a culture of continuous learning. Small carriers can lead with agility, pragmatism, and purpose.

Download the Full Strategic Guide