As per PwC’s 2025 Global CEO Survey, 54% of insurance CEOs are reportedly seeing efficiency gains in their employees’ time from generative artificial intelligence (GenAI), while 27% of Insurance CEOs and 36% of banking and capital markets CEOs said they have witnessed revenue increases from GenAI.
Despite this, the firm’s latest survey of 4,701 CEOs across 109 countries and territories, including Bermuda and the Caribbean, found that performance has fallen short of last year’s expectations. In the 2024 survey, 46% of CEOs anticipated profitability improvements, but a year later, only 34% reported actual gains.
“Trust in AI remains a hurdle to more widespread adoption. Only a third of CEOs said they have a high degree of trust in embedding the technology into key processes in their company,” PwC explained.
Still, optimism about GenAI’s impacts on profitability is slightly up on last year – with 49% reportedly expecting an increase in the next 12 months.
Elsewhere, PwC’s survey also found that insurance and reinsurance CEOs are more confident in their company’s revenue growth over the next 12 months (56%) compared to all CEOs globally (38%).
Arthur Wightman, Territory Leader, PwC Bermuda, commented, “We are in a time of opportunity and technological change. Businesses globally and in Bermuda need to fundamentally reinvent how they create value if they are to thrive in the future.
“As CEOs embrace change and new technologies, PwC’s role is to guide clients through critical decisions and help them seize emerging opportunities. Collaboration across borders, industries, and disciplines is essential to delivering bold, market-leading solutions.”
Mohamed Kande, Global Chairman, PwC, said, “This year’s CEO Survey findings highlight a stark juxtaposition – business leaders around the world are optimistic about the year ahead, but also know they must re-invent how they create, deliver, and capture value.
“Emerging technologies such as GenAI, shifts in geopolitics, and the climate transition are all revolutionising how the economy works. New business ecosystems are forming, transforming how companies compete and create value.
“To thrive, business leaders must act now and take bold decisions around their strategy – ranging from people, footprint, and supply chain, right through to reinventing their business model.”
