At the Target Markets Mid-Year Meeting in Dallas, FurtherAI CEO Aman Gour sat down with Ambassador TV’s Laurie Chordis to talk about where AI is making the biggest impact in insurance today and where it’s heading next.

The promise: efficiency and expansion

AI in insurance is doing more than automating tasks. Aman framed it in two parts:

Efficiency at scale. Generative AI is tackling inefficiencies baked into insurance operations by turning unstructured documents into structured data, processing submissions, and auditing policy forms automatically.

Expanding the insurable universe. Only about 10% of globally insurable risk is actually insured. The barrier hasn’t been insurability; it’s been process. AI makes it possible to reach the 90% of the market previously out of reach.

Misconceptions holding adoption back

Insurance has often been labeled “slow to adopt.” Aman pushed back, saying that with AI, insurers are moving quickly. What slows adoption is not reluctance but noise—vendors rebranding themselves as “AI” overnight and uncertainty about security. That’s why compliance matters. At FurtherAI, security and trust are table stakes (SOC 2, GDPR, ISO).

Where specialty carriers see value

Specialty insurers are using AI in three critical ways:

• Policy development: Comparing coverage documents, spotting exclusions, and aligning terms.
• Distribution: Enriching data and targeting brokers more effectively.
• Submissions and audits: Automating guideline checks and ensuring policies align with underwriting standards.
  

The adoption challenge

Not every workflow should be handed to AI. Successful carriers are starting with low-risk, high-value use cases such as submissions intake, SOV mapping, and audit support before tackling areas where regulatory scrutiny is heavier. The key to success is execution—pilots must translate into production.

Reducing expense ratios by half

Looking ahead three to five years, Aman predicts expense ratios could be cut in half. The driver? Automating what was once manual and repetitive, including submissions, policy comparisons, audits, and SOV processing. The result: MGAs increase margins, carriers improve efficiency, and reinsurers process more risk with less overhead.

The crystal ball: AI’s future in insurance‍

The biggest opportunity lies in unlocking that 90% of the insurable market. AI-first insurers will move faster, penetrate underserved segments, and gain first-mover advantage. While the technology is still evolving, the trajectory is clear: AI will expand the very boundaries of insurance.

What’s next for FurtherAI

Following its recent fundraise, FurtherAI is scaling across insurers, reinsurers, MGAs, and brokerages. The focus is clear: launch new AI products, publish real-world case studies, and deliver on the mission to slash expense ratios by 50%.

As Aman put it, “It’s the early days, but the technology is evolving fast. We’re excited to be building alongside our customers and partners, helping the industry move from inefficiency to impact.”