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The evolving role of actuaries in the age of AI

In Quentin Tarantino’s 1994 cult classic Pulp Fiction, when a situation deteriorates beyond control, everyone knows you call The Wolf. Arriving without the slightest hint of panic, he surveys the damage with practised calm and begins issuing instructions. Within minutes, chaos has been reduced to a sequence of manageable decisions. Insurance has long relied on people capable of performing a similar role. Actuaries are the professionals insurers turn to when risk becomes too complex for instinct alone.

When this challenge arises, actuarial models are put to the test to translate uncertainty into numbers, and those numbers into decisions about pricing, capital and commitments that may stretch decades into the future.

Now the tools used to perform that translation are changing due to the relentless surge of AI.

The scale of that technological shift is substantial. Research from McKinsey suggests artificial intelligence could generate as much as $1.1tn in annual value for the global insurance industry, driven by improved risk modelling, underwriting and operational efficiency.

But the story is not simply about new technology. It is also about how a profession built on statistical rigour is adapting to a world where the speed of decisions, and the stakes attached to them, are increasing.

“Automation is taking over repetitive, manual tasks,” says Mónica Carvajal-Pinto, Head of Actuarial Data Science – International at Parisian InsurTech Akur8.

Freed from those calculations, actuarial teams are beginning to spend more time examining what lies beneath the numbers.

“Actuaries can focus on deeper risk analysis, uncovering emerging trends and driving business strategy,” she says.

The shift, she argues, is fundamentally about perspective.

“The actuarial lens has widened,” she says. “It is moving from ‘how do we calculate this?’ to ‘what do these insights mean for our business, and how should we act on them?’”

Maintaining Trust as the Claims Process Evolves : Risk & Insurance

The insurance claims landscape is rapidly transforming. Artificial intelligence is automating processes, plaintiff attorneys are deploying sophisticated data analytics to gain an advantage, and expectations around responsiveness and insight have never been higher.

Yet amid these technological shifts, a crucial question remains: How do insurance professionals maintain the human relationships that build trust and deliver genuine value?

Ron Morrison, Chief Claims Officer at MSIG USA9pictured), has spent his career navigating this balance. His approach reflects a clear philosophy: technology may change how claims are handled, but it does not replace the need for thoughtful decision-making, strong relationships, and consistent execution.

Every insurance carrier promises exceptional claims service. What separates the exceptional from the ordinary is how consistently that service is delivered and how well it integrates with the client’s broader risk management strategy.

“My whole philosophy centers on integrating our culture with our insureds and providing next-level service,” Morrison said. “Every carrier says that, but how we differentiate is through our execution.”

Morrison’s vision is for MSIG USA’s claims team to operate as a natural extension of the client’s organization, aligned not only to the claim itself, but to the client’s broader objectives and operating environment.