Artificial Intelligence: an opportunity for the Group's insurance business

Artificial Intelligence, and in particular Generative AI, represents an opportunity for the insurance sector and the Intesa Sanpaolo Group is experimenting with various applications in this field.

If used properly, in fact, AI can be a key tool to help:

• enhance the commercial effectiveness of the bancassurance model that characterises the Intesa Sanpaolo Group
• evolve the advisory model provided by managers in the area of Protection, thanks to a more sophisticated and flexible analysis and management of customer needs.

One of the experiments underway in the insurance sector, for example, relates to the application of advanced analytical models capable of providing information for claims and fraud management by identifying cases of overtreatment.

The insurtech sector, i.e. the sector of technology-driven innovation in insurance, has seen a strong increase in Italy: investments grew from €50 million in 2020 to €800 million at the end of 2023 (Italian Insurtech Association data).