Insurers Focus on Technology Innovation in Growing Excess & Surplus Insurance Market, According to Xceedance

E&S Carriers and MGAs See Significant Room to Expand Technology Use Near-Term

BOSTON, MA, UNITED STATES, February 4, 2025 /EINPresswire.com/ -- While insurers and MGAs take advantage of significant untapped opportunity in the excess and surplus insurance market, many are focused on using technology to drive innovation and efficiency, according to a new survey report on E&S insurance trends from Xceedance, a leading global provider of strategic operations support, technology, and data services for insurance organizations. Overall, 74.5% of industry leaders say they’re optimistic or very optimistic about the market, according to the survey, which was conducted in partnership with E&S Insurer.

There’s a lot of room for E&S insurers to expand their use of technology, survey results say. Just 5.9% of respondents see advanced use of technology in the E&S segment, with the majority—62.7%—describing their own organization’s technology use as slight or moderate. The survey highlights some of the top areas where insurers have used technology, including digitizing submissions, more use of data analytics, desktop underwriting applications, and claims analysis.

The report also highlights top trends in E&S, including embedded insurance, the ways automation is shifting underwriters’ roles, new sources of data and the AI factor, and how sector innovation is drawing new talent to insurance.

“For more than a half decade, there has been considerable E&S market growth. Manual processes cannot keep up with the growing demand. Expect technology to have a significant impact on the specialty insurance market in 2025. AI can transform not only underwriting and claims but also risk assessment, distribution, and policy servicing,” explained Sachin Kulkarni, executive vice president, Xceedance. “E&S insurers will need to embrace technology to accelerate product development, enhance operational efficiency, and elevate the overall customer experience.”

The survey was conducted online among E&S carriers, wholesalers and others during November-December 2024 via partnership between Xceedance and E&S Insurer from Reuters. Copies of the report are available at https://www.xceedance.com/es-trends-2025/.

About Xceedance
Xceedance delivers insurance-focused consulting, technology, operations support, and data solutions to many of the world’s largest P&C insurance organizations. With 4000+ team members across the Americas, EMEA, and APAC, our rightshoring delivery model blends deep insurance domain knowledge with AI and next-generation technologies to provide localized services and digital-first platforms. We empower 200+ diverse clients, including commercial, personal, and specialty lines re/insurers, mutuals, program administrators, brokers and agents, and Lloyd’s of London entities, to navigate market challenges and propel business growth. For more information, visit www.xceedance.com.

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