AI-Powered Hyperpersonalization Revolutionizes Insurance Industry

The insurance industry is shifting towards more personalized products and services, driven by advancements in AI. The market value of AI in insurance is projected to reach $59.5 billion by 2033, up from $8.63 billion in 2025.

Greg Hanson, VP and Head of EMEA North at Informatica from Salesforce, notes that insurers are moving beyond one-size-fits-all products. The use of AI has become widespread across underwriting, pricing, claims, and customer engagement.

Hanson emphasizes the importance of a unified customer and network view, which is essential for hyperpersonalization. This involves having a single, reliable view of each customer, asset, and relationship network. Master Data Management (MDM) can provide this view by connecting systems that support it.

For example, an insurer can identify cross-policy opportunities using trusted data, allowing them to offer multi-policy household discounts and bundling options. This approach can lead to deeper relationships with customers and higher retention rates.