AJGArthur J. Gallagher & Co.

“With our tools now, we know this statistically, we're approaching 45% hit ratios when, in fact, we use the tools. And we have a number of them. It's not just Gallagher Drive. This week at RIMS, we'll be announcing Blueprint, which is all about improving the risk and insurability of our clients, making their profile better.”

“we have found over the last few years that if we digitize the relationship with the client, it will actually increase our retention by a full point. Now that means it takes it from something like 94.5% to 95.5%.”

“Third, operational change is not new to Gallagher. For more than 2 decades, we've standardized processes and centralized our proprietary data across the company. That foundation allows us to deploy AI today across P/C, claims, reinsurance benefits and mergers and acquisitions because we have embedded operational excellence into our DNA. We already have the brains and financial resources to quickly deploy AI. In our view, we're ahead, and that advantage compounds over time.”

“they all walk in and go, well, we've got AI. Look at our ChatGPT. That's not the point. Let us just show you what we do with your risk profile, which we can now categorize numerically that says, as you exist today, you score on our profile 65. That's not great. But if you work with us on loss control, on improving your risk profile, on the things you need to do, we can take that, we think, to 87.”

“Our reinsurance people have got a workbench product that uses AI to show clients all kinds of different approaches, et cetera, et cetera. These tools, we're spending hundreds of millions of dollars, and they're really getting traction.”

“Fourth, AI is already deployed across many of our core platforms and workflows. It helps our teams make better decisions and spend more time advising clients while continuing to raise productivity and quality.”

“As a percentage, it's a very small item. It's not anecdotal, but it is also illustrative that specialty market comes in 5 different type of buckets. So you got to think about these as a headwind in that -- as a tailwind in that vertical that as these things come online, they're going to have to go to the specialty and E&S market in order to get that cover.”

“And finally, and most importantly, AI strengthens, not replaces the broker and adviser model. AI is another tool that strengthens how we serve clients. It does not change the fundamental nature of our business. AI makes every single one of our professionals better at what they already do by amplifying our expertise, our data and our market access.”

“The fastest-growing part of E&S continues to come from emerging specialty risks such as data centers and AI-related infrastructure as well as other complex exposures. These risks don't fit well in the admitted markets and represent a structural multiyear growth opportunity for E&S.”

“We view AI, digitization and automation as a continuation of that long-standing strategy. It builds on decades of work standardizing processes, centralizing our global data and improving execution, all to help our people provide the very best advice and service to our clients.”

“Second, AI actually should accelerate our growth. AI enhances our ability to deliver faster, higher-quality advice and more tailored client solutions, improving our speed to market, win rates, retention and provides better client experiences.”

“First, we expect AI to be minimally disruptive when it comes to selling insurance, providing consulting services and managing claims. Our business is advisory-led, complex and relationship-driven.”

“The team is adding new products, new services and embracing new technology, including AI and machine learning to further improve the claims experience for our clients.”

“And importantly, culture is what makes our investments in talent, technology and AI work. Our people embrace change when it helps them better serve their clients, improve quality and deliver stronger results.”