AI Can Fix Insurance, So Why the Delay?

Ireland's insurance industry has the capital, talent and regulatory credibility to lead AI-driven innovation, yet too many promising technologies stall at pilot stage. With global insured losses from natural catastrophes hitting $137bn in 2024 and insurance fraud costing over $25bn annually, the cost of inaction is mounting. Ireland's Digital Sandbox for Insurance offers a market-led testing environment that removes the key barrier to adoption: operational risk. One tier-one insurer cut its AI fraud detection proof-of-concept phase from 18 months to eight by using the sandbox. The obstacle was never the technology — it was organisational willingness to change.