Outcomes

Members of the LMF Gen AI Working Group came together this month for their latest roundtable discussion, exploring one of the most pressing topics shaping the London Market — how Generative AI, is being adopted, implemented, and embedded within organisational practices, processes and culture.

Supported by Cognizant, the session provided an opportunity for Market practitioners to exchange real-world experiences and reflect on both the opportunities and challenges of implementing AI at scale.

Adoption and Reality

While enthusiasm for AI remains strong, participants shared that translating interest into widespread adoption continues to be a gradual process. Many organisations have introduced platforms such as Microsoft Copilot or built internal AI tools, but actual usage remains limited to a small proportion of employees.

Common barriers include a lack of confidence, insufficient training, and uncertainty about how to use these tools responsibly and securely. Several attendees noted that adoption tends to accelerate when AI is clearly linked to specific workflows or measurable business outcomes, rather than being made available as a general-purpose tool.

Culture at the Core

A recurring theme throughout the discussion was the vital role of culture and leadership in driving sustainable technology adoption. Participants agreed that success is less about the sophistication of the tools and more about the environment in which they are introduced.

Organisations that empower experimentation, support champions, and foster collaboration tend to see faster progress. As one attendee observed, “Innovation only happens when individuals are encouraged to drive it forward — it doesn’t happen by accident.”

However, cultural resistance and risk aversion remain challenges, particularly where employees fear that AI might replace rather than enhance their roles. Many in the group emphasised that AI’s value lies in freeing people to focus on higher-value work, not reducing headcount.

The Rise of Agentic AI

Cognizant shared insights into the growing use of AI agents — systems that can operate autonomously within specific functions such as underwriting, pricing, or claims. These developments represent a significant step towards embedding AI directly into business processes rather than treating it as an add-on.

At the same time, participants highlighted the need for governance and consistency. With multiple teams experimenting independently, organisations risk creating fragmented systems, duplicated data, and rising costs. The consensus was that a coordinated approach, underpinned by clear standards and oversight, will be essential for sustainable growth.

Evolving Roles and Skills

The group also discussed the evolving relationship between people and technology. As AI takes on more administrative and analytical tasks, human expertise is becoming even more important — particularly in areas requiring judgement, context, and creativity.

Younger professionals are often more comfortable experimenting with AI tools, while experienced colleagues provide the domain knowledge and regulatory awareness that ensure responsible use. Bringing these strengths together was seen as critical for the Market’s continued innovation.

As one contributor summarised, “Adoption shouldn’t come from IT alone — it must be owned by the business.”

There was a strong feeling that as an industry we need to embrace this new era of digital transformation, as over the next few years, our intake of new recruits into the industry will have grown up during an era where Ai was part of their everyday life and something used alongside their education. They will be expecting their chosen industry to have these tools and technologies at their disposal.

Looking Ahead

The discussion closed with consensus that AI adoption across the Market is accelerating, but that the pace and impact will depend on cultural readiness as much as technical capability. The next phase of the journey will focus on building trust, establishing governance frameworks, and ensuring that innovation remains people-led.

The LMF Gen AI Working Group will continue to meet again in three months to share lessons learned and shape best practice for the Market’s AI journey. On 4th December, LMF, in partnership with Cognizant and Microsoft will be hosting a very special event on this topic, at Lloyd’s, for the Market.