We have been providing insurance consultancy services for 33 years, and with the advent of AI (artificial intelligence), we are seeking partners and investors for five projects aimed at expanding our sales network, client base and offices. We are looking for investors for projects ranging from €50,000 to €1 million, offering a guaranteed monthly return, a marketing plan, business plan, monthly progress reports, and a return on investment of between 7% and 25% depending on the investment made. You can verify our professionalism on Google by searching for ‘Massimiliano Liuzzi’ and ‘Centro Servizi Liuzzi’, as well as on various social media platforms including LinkedIn. Kind regards

Artificial intelligence is set to revolutionise the insurance sector, including in Italy. 2024 will mark a record year for market investment in insurtech, starting with artificial intelligence. By the end of the year, around €50 million will have been invested in this sector, a figure that could rise to €90 million by 2025 and €140 million in 2026.

This factor also underpins the improvement in the Insurtech Investment Index, devised by the Italian Insurtech Association and compiled by the Fintech & Insurtech Observatory at the Politecnico di Milano, which monitors the level of innovation in the insurance sector in Italy.

In 2023, the level of digitalisation in the Italian market is rising again, achieving a positive score of 20/30, a marked improvement on last year’s 14/30. However, two other factors are driving this growth: the significant increase in the development of internal projects by insurance companies and partnerships between them and insurtech start-ups. In fact, there are 108 internal projects (compared to 55 in 2022, an increase of 96%) worth €44.8 million (compared to €23.7 million in 2022, an increase of 89%). Furthermore, 45 partnerships involving insurtech projects have been established (compared to 25 in 2022, an increase of 80%).

In line with this trend, the insurance sector is also gradually adapting to digital innovation inspired by insurtech and its culture, based on simplification and the provision of customer-centric services, profiling and personalisation, service embedding, and parametric and frictionless policies. ‘The most significant finding is that the sector’s key players have significantly increased investment in internal innovation projects and intensified partnerships with emerging insurtech start-ups,’ says Filippo Renga, director of the Fintech & Insurtech Observatory. “Particular attention must obviously be paid to artificial intelligence: 91% of insurance companies believe that AI and, more generally, technologies for data collection and analysis will play a crucial role in the insurtech market revolution over the next decade.”

As regards artificial intelligence, investments made to date have been predominantly in the areas of operations and data management, as well as in digitalisation and product development. By 2024, the IIA forecasts an increase in investment in sales and marketing, where AI will be used primarily to educate consumers and intermediaries, thereby boosting insurance penetration in Italy, a country that remains significantly underinsured. “In Italy, the sectors investing most heavily in AI are telecoms and insurance,” comments Simone Ranucci Brandimarte, president of IIA. “We are witnessing a monumental challenge in rolling out services that will have a massive impact on the business models of a great many insurance players. In our view, the main challenge concerns not only the value of investments, which we expect to rise sharply, but also finding the skilled professionals who will have the arduous task of developing these services.”

Skills related to artificial intelligence and data management are consequently also the most in demand in the market. According to the annual Skills Report, produced by the Italian Insurtech Association, the demand for digital skills in the insurance sector has reached significant levels. According to the latest survey, 25,000 new roles requiring advanced technological skills are expected to be created over the three-year period 2023–2025. Specifically, roles such as data managers, cloud architects, data analysts, and specialists in warehousing & business intelligence and project & programme management are in demand. According to estimates in the 2024 Skills Report, by June, insurance companies will be seeking 15,000 professionals to work on projects related to artificial intelligence.