“We need the hype in order to get to the hope,” said Kathrin Schwidde, Generali Germany’s Head of Strategy and Lifetime Partner Transformation, as she talked about the dual impact of AI in the insurance sector at a recent ITC event. In her role, Schwidde has witnessed the transformative potential AI brings to every aspect of insurance, and she firmly believes that Generali’s adoption of AI will reshape their operations across the value chain.
Schwidde views AI as more than a technological advancement; it’s a structural change.
“AI transforms the business as we know it,” she shared, explaining that the technology extends beyond operational tasks. From underwriting to customer support, and even internal functions like finance and HR, AI’s reach at Generali is both wide and deep. “This is not only about operational business; it’s about supporting all parts of the value chain,” she continued.
To maximize AI’s benefits, Schwidde insists that organizations must take a strategic approach. At Generali, this involves integrating AI initiatives into the broader business strategy.
“It has to be implemented into general strategic deliberations,” she explained, noting that simply deploying AI without alignment with company goals limits its potential impact. Schwidde advocates for “small pilots” to explore AI’s capabilities. “We need to define really small pilots to learn because everyone has to learn in this new topic,” she said. This underscores the importance of iterative experimentation.
Generali’s partnership with Google since 2019 has been instrumental in fast-tracking their AI projects. Schwidde praised Google’s established role in AI and machine learning, stating: “Google is a player that has been leading for several years in generative AI, machine learning — all these things.” Through this partnership, Generali leverages tools like TensorFlow and Google Cloud infrastructure, allowing them to scale AI initiatives more effectively.
Although AI’s potential has potential, Schwidde recognizes the challenges that come with it, particularly around data quality.
“The availability and quality of data are crucial for any success,” she noted. Schwidde stressed that AI is only as effective as the data it processes, making data integrity a foundational element in Generali’s AI strategy.
Looking toward the future, Schwidde remains optimistic about AI’s lasting impact on the insurance industry. Echoing Roy Amara’s famous quote, she admits that while the effects of AI may seem overstated in the short term, its long-term potential is often underestimated.
“We can’t even imagine what’s possible in the future,” she said, expressing confidence that AI will unlock unprecedented opportunities in insurance.
Schwidde’s commitment to AI reflects Generali’s vision of modern insurance that’s proactive, data-driven, and deeply integrated with advanced technology.
“This topic is here to stay and to transform the industry,” she concluded, which affirms that AI’s hype is paving the way for meaningful change in the insurance landscape.
