The insurance industry is at a turning point. Those who embrace change will gain a competitive edge, while those who cling to outdated systems will be left behind. According to new market research from Send Technology Solutions Ltd (Send), 2025 represents the first real year of opportunity since the COVID-19 pandemic, as insurers move from a cautious stance to a proactive and strategic approach.
The research, conducted in late 2024 and early 2025, engaged 60+ insurance leaders, specialists, and practitioners from carriers, MGAs, and brokers across the U.S. and Canada. Their insights highlight a shift from traditional underwriting practices to data-driven decision-making, AI adoption, and portfolio management optimization.
Key Findings:
- Data-Driven Underwriting: Carriers are prioritizing analytics and predictive tools to identify emerging risks and align products accordingly. Data literacy and the ability to translate risk insights into action are key drivers of underwriting success.
- Artificial Intelligence Adoption: Insurers are moving beyond experimentation to structured AI integration, ensuring employees are trained to use AI tools safely and effectively. AI agents and automated workflows are expected to play a greater role in 2025.
- Portfolio Management Optimization: Underwriting efficiency is in focus, with firms striving to ensure the right people are working on the right tasks at the right time. A deeper understanding of risk concentration will help improve profitability and resource deployment.
Legacy systems are the industry’s biggest bottleneck, stifling efficiency, and profitability. Many insurers are still relying on manual processes, outdated rating models, and Excel-driven workflows—tools that can’t scale in today’s fast-moving market. According to the research, 66% of brokers say carriers must triage submissions faster, and 44% demand quicker quotes, yet inefficiencies persist. The fear of disrupting existing workflows keeps many organizations from modernizing, but the firms that fail to act in 2025 will lose ground to more agile competitors.
“This research underlines the fact that underwriting in 2025 will be faster, smarter, and more connected than ever before,” said Andy Moss, Co-founder and CEO at Send. “The firms that embrace data, AI, and portfolio optimization will be the ones that thrive in an increasingly competitive and evolving market.”
In addition to technology-driven shifts, insurers continue to grapple with legacy system challenges, the rapid rise of the Excess & Surplus (E&S) market, and talent shortages. As seasoned professionals prepare for retirement, attracting and upskilling talent is seen as a critical factor in maintaining industry momentum.
“The underwriter of the future is highly data-literate, powered by technology, and focused on making balanced, informed decisions,” added Sarah Sutton, CMO at Send.
The full report, including detailed insights and analysis, is available for download here.
ENDS
For more information, contact:
Aman Chatha: achatha@tmd.ca
Notes to Editors:
About Send:
Send is a rapidly growing Insurtech software company based in London with global reach. The company has developed an innovative connected workbench that enables re/insurers and MGAs to automate, streamline and optimize their underwriting operations. It’s a composable platform that gives teams everything they need to be more productive, in one place – a single platform for managing new business, renewals and endorsements.
The SaaS platform brings complex data out of silos into one solution, providing a consolidated view throughout the lifecycle. Its automation enables new and mature insurers to eliminate rekeying, improve predictability, and work smarter.