LIMRA and Equisoft report reveals 78% of global life insurers believe data readiness is the biggest challenge to getting value from AI | PR Newswire [Video]

Equisoft commissioned LIMRA to conduct research in collaboration with UCT to assess data readiness for AI in the life insurance industry. This report enables life insurance carriers to evaluate their data readiness and benchmark critical areas for data modernization investment and prioritization.

, /PRNewswire/ – Equisoft, a leading global digital solutions provider to the financial industry, and LIMRA, in collaboration with Universal Conversion Technologies (UCT), a global leader for insurance data services, published the findings of the Assessing Data Readiness for AI in the Life Insurance Industry report, which enables insurers to assess their data foundation and implement data strategies that will deliver significant organizational results.

The report found that 78% of respondents believe data readiness is the biggest challenge in getting value from artificial intelligence (AI) and that while most companies rank as “progressive” in terms of their data perceived readiness, 46% of respondents say they aren’t ready to implement AI.

“Data is foundational to …