NTT DATA’s latest Insurtech Global Outlook 2026 report argues that the insurance industry is facing a structural inflection point, with rising uninsured losses, growing liability claims, and cyber risk moving to the top of the agenda. The report says the old model of reacting to loss is no longer enough, because risk is now moving faster than traditional resilience systems can keep up.
The company says cybersecurity is now the largest business insurance risk, with uninsured losses projected to rise from $171 billion in 2023 to more than $700 billion by 2030. Climate-related uninsured losses, including extreme weather, floods, and wildfires, now total $180 billion, while liability claims have risen sharply as well.
AI Is Moving Into the Operating Model
NTT DATA says AI-native and agentic operations could deliver as much as 35% in cost savings through automation and process optimisation, but adoption remains limited. According to the report, only 22% of insurers have scaled AI to production, even though 66% of the workforce is already using AI tools in some form.
The report suggests the bottleneck is not technology alone. Instead, the bigger obstacles are trust, governance, and operating models that were built for a slower, more predictable risk environment.
Four Priorities for Insurers
NTT DATA says insurers need to shift from reactive payouts toward continuous risk detection, decisioning, and prevention. That means using data, AI, and simulation to identify threats earlier and respond before losses escalate.
The report also calls for responsible AI deployment, noting that explainability, compliance, and human accountability must be built in from the start if insurers want to scale AI safely. It adds that customer experiences are also changing, with prevention-first and hyper-personalised insurance models growing quickly.
Ecosystems and Capital Are Shifting Too
Beyond technology, the report points to broader market change. It says US insurance IPO activity is at a 20-year high, while debt financing has climbed to $9.5 billion, exceeding equity funding.
NTT DATA also argues that ecosystem partnerships will become more important, especially as embedded insurance continues to grow and open standards become more important to regulation-ready infrastructure.
