AI and data are two of the biggest buzzwords in insurance right now. But beyond the hype, how are they actually being used to make life easier for customers and brokers?
We sat down with Chris Mullan, Head of Data & AI, CFC, to hear his story. Here, he shares how his journey from actuary to AI leader shaped his thinking, how CFC is using tech to remove friction for brokers and customers, and why the biggest opportunities in insurance aren’t just about speed, but smarter ways of working.
Tell us about your background. Why data and AI, and why the move to CFC?
I started my career as an actuary, but early on stumbled into the world of advanced machine learning and big data with Kaggle, the data science competition platform. I taught myself Python and its machine learning (ML) libraries, and once I’d finished my first predictive models, including one for claims, I had my penny-drop moment. I realized this was the future. In actuarial science, Python was a far more powerful tool than traditional spreadsheets—and at the time, data scientists were half the cost of actuaries. It reminded me of the Industrial Revolution: if farming was analytics, then machine learning was the combine harvester. From that point, I knew I wanted to help build the machinery of the future.
I joined Deloitte and became an advocate for Python skills among actuaries, pushing for the profession to embrace AI and ML. I even started a course to help other actuaries learn to code. Eventually, I was asked to lead the ML team, which included both data scientists and actuaries; an inflection point where AI moved from being a curiosity to the core of my job. After a stint in the startup world, I realized that entire generations of AI tech were quickly becoming obsolete. So when the opportunity at CFC came along, it felt like the perfect fit. CFC has a strong reputation for being data-driven and unafraid to try new tools and technologies; a mindset that still isn’t universal in the insurance market. If anywhere was going to make the most of the AI wave, it was here.
What’s your view on AI’s impact on the insurance industry today?
AI’s impact is only just beginning, and however big people think it’s been, it’s going to be far bigger. We’re at the start of an intense period of change across every industry, with technology already disrupting how businesses operate, and the types of risks they face. From how companies collaborate and make decisions, to how they interact with customers and manage internal operations, we’re seeing a universal transformation of how work gets done. The insurance sector has a critical role to play in keeping up, understanding what’s coming next and protecting businesses when things go wrong.
CFC has a strong reputation for being data-driven and unafraid to try new tools and technologies; a mindset that still isn’t universal in the insurance market. If anywhere was going to make the most of the AI wave, it was here. Chris Mullan, Head of Data & AI
AI opens the door to doing things smarter, from how we price and assess risk to how we deliver products. It gives us a superpower. And it’s arriving at a moment when there’s huge demand to reduce cost and increase efficiency across the market. The biggest challenge has always been the complexity of the human-to-human value chain, something that’s traditionally been hard to automate. But the rise of large language models has changed the game. It’s reduced the cost of building, the time it takes to drive change, and the number of people needed to do it. That means the pace at which insurers can adopt new tools and improve how they operate will become a key competitive differentiator.
How is CFC using AI to make life easier for brokers and policyholders?
At CFC, we’re using AI not just to move faster, but to move smarter. One of the biggest misconceptions about AI is that it’s just about speed. More quotes, more automation, more volume. But for us, it’s also about slowing down where it counts. By letting technology take care of the manual tasks around underwriting, such as gathering information, analyzing submissions, pulling third-party data, we’re freeing up time for our people to do what humans do best: build relationships, apply judgement, and really understand the risk.
That same thinking applies across the value chain. We’re famous for asking fewer questions on our applications, and that’s not by accident. We use AI to generate the insight we need behind the scenes, making it easier for brokers to work with us, and simpler for customers to get covered. And perhaps most exciting of all, it means we can underwrite risks that might’ve been too complex, opaque or uneconomical before. With more insight, we can unlock protection for clients who’ve traditionally been underserved.
Name one misconception you often hear about AI in insurance, and the reality.
The biggest misconception I hear about AI in insurance sits at two extremes. One camp says, “It’ll do nothing, we don’t need to change.” The other claims, “It’ll do everything, just wave the wand and problems vanish.” The truth is more grounded. AI is incredibly powerful, but it certainly doesn’t fix broken processes on its own. If you automate something inefficient or outdated, you’ll just get to the wrong answer faster.
One of the biggest misconceptions about AI is that it’s just about speed. More quotes, more automation, more volume. But for us, it’s also about slowing down where it counts. By letting technology take care of the manual tasks around underwriting, such as gathering information, analyzing submissions, pulling third-party data, we’re freeing up time for our people to do what humans do best: build relationships, apply judgement, and really understand the risk. Chris Mullan, Head of Data & AI
What sets CFC apart isn’t just the risks we write, but the way we write them. It’s about applying AI in smarter, more effective ways, rethinking how we work, not just digitizing what we’ve always done. And as much as the hype suggests we’re on the brink of an AI revolution, the reality is that insurance is a complex business. The last 10% of any process—the judgement, the nuance, the relationships—that’s what really matters. AI can unlock incredible potential, but only when it’s built on a deep understanding of both the technology and the business it’s serving.
What are the biggest AI opportunities and challenges for insurers?
AI presents a huge opportunity for insurers to boost efficiency and ultimately increase capacity. The more we can automate and streamline, the more risks we can cover and the more people we can help. That’s what insurance is for: to be there when things go wrong. If AI helps us get protection to more people, faster and cheaper, that’s a net gain for everyone. It also opens the door to a more proactive model, something we’re already doing in cyber. With the right data and tools, we can help clients avoid risk in the first place, not just recover from it.
But with opportunity comes challenge. The biggest shift ahead is how we communicate. Insurance has always been human to human. Then came broker portals and APIs. Now we’re entering the era of AI-powered agents and machine-to-machine interactions, and that will test how much people trust these tools. Will clients be comfortable dealing with digital agents? How do we ensure those systems act in their best interest? These are the questions we need to answer as we build the next generation of insurance.
What’s your passion outside of CFC?
I’d say my biggest passion is literally living. After nearly dying twice, I don’t take a single day for granted. I’ve got five kids who are a constant source of joy (and, on good days, net positive energy), and they’re a big reason why I work hard. I’ve always had an endless curiosity, which drew me into ML and AI in the first place, and I’m constantly learning. When I get the chance to switch off, you’ll find me mountain biking or deep into a board game.
Learn more about AI opportunities and challenges in the insurance space here.
