London's Insurtech Insights 2025 was all about AI, emerging technologies, and how its reshaping insurance. The critical question was: How will these powerful technological shifts impact the insurance industry?
To break it down, we spoke with Dr Steve Long, former CEO of ManyPets US, for insights on navigating growth and tech adoption in insurance. Steve offered his perspective on separating the hype from the truly high-impact trends.
We asked Steve:
1. Which trends from the conference will have the most significant impact on the pet insurance industry?
There was a big focus on AI at the conference, and it is clear that AI will have a significant impact on all industries, not just pet insurance.
Focusing on pet insurance, I think there are opportunities to improve operational efficiency, which will reduce costs while also enhancing the customer experience. For example, agentic AI can help process claims by reviewing submitted information, following up with policyholders if anything is missing, converting complete claim information into structured data, assessing this data, and providing recommendations to claims handlers on how to proceed. AI can also assist customer service teams by drafting responses to customer queries, supporting customer service executives in handling incoming policyholder calls, or powering chatbots that can effectively answer routine questions.
2. Do you see any differences in the pet insurance industry’s focus in the UK, the rest of Europe, and the rest of the world?
My experience has been largely with pet insurance in the UK, Sweden, and the US. The most notable difference is pet insurance penetration across these countries:
- Over 50% of dogs and cats are insured in Sweden.
- Over 26% in the UK.
- Only 3% in the US.
In the US, raising awareness of the benefits of pet insurance is a key focus, as it is a relatively new product there (launched in 1981 vs. 1890 in Sweden). Additionally, preventative wellness policies are very popular in the US and are often confused with insurance policies, making consumer education particularly important.
With respect to technology, I have not seen major differences between these countries. All markets are focused on claims automation and improving distribution.
3. What challenges do you see with implementing more automation, and how can these be overcome?
I think the biggest challenge of automation, and AI in general, is the loss of expertise over time.
If entry-level jobs that young employees typically start with upon leaving school or college are automated, how will they gain the experience needed to progress into more senior roles? While experienced executives can easily identify when AI automation has made an incorrect decision, the younger generation will not have the same opportunity to learn on the job. This raises concerns about who will succeed today’s executives in overseeing automation as they reach retirement age.
4. Pet owners’ expectations are changing rapidly – how should insurance companies adapt?
Personalization is going to become increasingly important. Policyholders want their pet insurance and customer experience to feel tailored to them and their pets. Insurers need to ensure that all communications are relevant and personalized while making every policyholder feel like a valued customer, no matter what product they have purchased.
5. Was there anything specific you’re especially excited to bring back and share with your colleagues?
The thing that struck me most was how advanced some AI tools already are for use in insurance. No-code, drag-and-drop system configurators are making it easier to manage AI workflows. AI can now read and ingest unstructured data, transforming it into usable insights. AI-powered photo and video assessments are becoming increasingly sophisticated, particularly in property and auto insurance, with potential expansion into pet insurance.
The speed of AI advancements is truly phenomenal right now.
Final insights
The discussions in London, along with perspectives like Steve’s, emphasize that leveraging technology strategically is no longer a differentiator—it’s essential for insurers. Success doesn’t just come from adopting new technology, but from implementing it intelligently to address core challenges. This often requires a foundation built on structured data for clarity, automation for efficiency, and insights to drive smarter decision-making. It’s crucial for redefining claims management, enhancing the customer experience, and ultimately shaping a more efficient and sustainable future for insurance.
