A new Lloyd’s Market Association survey shows that AI adoption across the Lloyd’s market has more than doubled over the past 12 months. The research covered 39 firms representing more than 60% of the market’s stamp capacity.
The most significant finding is not simply the pace of adoption, but the way firms are approaching it.
According to the survey, 93% of respondents have already implemented or are building formal AI governance frameworks, reflecting a clear focus on responsible deployment rather than experimentation alone.
The market is steadily moving towards AI-assisted underwriting, actuarial analysis, operational efficiency and compliance, while maintaining human oversight in critical decision-making.
For insurers and reinsurers, the message is clear: AI is becoming another core capability of the business—not a replacement for underwriting expertise, but a tool that enables faster, more informed and more consistent decisions.
