A Critical Success Factors (CSFs) Model for Next-Generation Artificial Intelligence (AI) Systems in Insurance Markets

In this paper, the Critical Success Factors (CSFs) for Artificial Intelligence (AI) implementation in insurance markets are identified and illustrated with examples from case study research conducted by Loughborough University as part of its Technology in Next Generation Insurance (TECHNGI) project.

The emphasis is on identifying the organisational and strategic factors, in addition to the AI-specific issues that affect the overall success of AI projects. It is assumed that standard project management tools such as critical path analysis, allocation of resources, interdependencies between sub-projects, project schedules, project communication and troubleshooting are employed, and these standard technical project management elements are excluded from this paper to allow a clearer focus on the organisational, strategic, and digital factors that are necessary for new, contemporary AI projects.