Insurify finds 86% of Americans trust AI in insurance shopping

As car insurance premiums remain high across the country, Insurify’s inaugural AI Insurance Report shows that 86% of Americans, or 6 in 7, are ready to trust artificial intelligence to help them save.

Surveyed drivers said they would trust AI to assist them in buying car insurance (51%), from comparing quotes across insurers (76%) to explaining coverage, securing better rates, and creating customized policies (54%), according to an Insurify press release.

“The average American driver pays $2,310 per year for full-coverage car insurance, making it one of the most significant recurring expenses,” the release states. “The report, based on a national survey of 3,002 drivers, shows America’s growing confidence in AI’s ability to simplify a traditionally time-consuming process and willingness to use AI to make smarter, more cost-effective insurance choices.”

“Our AI Insurance report shows that American drivers are increasingly seeing AI as a trusted co-pilot for making insurance decisions,” said Snejina Zacharia, Insurify’s founder and co-CEO, in the release. “From the start, Insurify has used AI to deliver personalized car insurance quotes quickly. This new data is evidence that industry adoption of AI is critical to meet the growing consumer demand for smarter, transparent insurance experiences, and it signals that insurance may be the next sector for mass AI adoption.”

The survey also found that drivers:

• • Have already used AI assistants to shop for car insurance — 42%, including 60% of Gen Z.
  • Would share personal or driving data if AI could save them $1,000 annually — 49%, including 59% of men and 42% of women.
  • Would allow AI to change their car insurance if it found a cheaper rate — 39%, and rises to 68% when doing so could save $1,000 per year.
  • Would trust AI to determine fault in an accident — 38%.
  • Would trust it to approve or deny claims — 40%.
  • Are open to using AI for financial decision-making — 73%.

However, the survey also found that, despite growing trust in AI, many drivers still value human expertise. Fifty-three percent said they prefer advice from human insurance agents. Among those who haven’t used AI to shop for insurance, 50% cite a preference for human guidance, while 29% are concerned about protecting their personal data, according to Insurify.

“AI is ushering in the next wave of insurance innovation, and our data underscores consumers’ willingness to use AI-powered tools,” added Giorgos Zacharia, Insurify co-founder & co-CEO. “Insurify is launching a new AI-powered policy upload feature to deliver comparative, side-by-side quotes in less time by eliminating data entry time and errors. It’s another way we’re using AI to simplify insurance shopping and help Americans save.”

Images

Featured image credit: Pakorn Supajitsoontorn/iStock