AI to Revolutionize Iran’s Insurance Sector, Experts Say

Specialized Meeting: 'The Application of Artificial Intelligence in the Insurance Industry: From Innovation to Data and Algorithm Governance' was held today, Tuesday, October 20, 2025, on the second day of the annual Eco-Insurance conference at Milad Tower. Prominent managers and experts in the insurance and technology industries discussed the challenges, opportunities, and future of AI in the insurance sector.

The Insurance Industry Falling Behind Technology Trends

Meisam Mirzadeh, head of the Center for Technology, Information Security, and Intelligent Development at Central Insurance of Iran, emphasized that the Iranian insurance industry has lagged behind three key technological paradigms over the past three decades: digitization, digital transformation, and intelligence.

He stated: "If the insurance industry does not adapt to these paradigms, society, the industry, and the new generation will not wait. The industry may face a painful transformation."

Mirzadeh identified the traditional mindset of managers as the most significant challenge facing the insurance industry. He noted that many still view technology as a cost rather than an investment.

He proposed creating an institutional framework for implementing a data governance system in the insurance sector. He also suggested enabling private sector investment opportunities and enhancing data interactions with other industries.

AI's Role in Risk Assessment and Claims Management

Mohammadreza Farahi, founder of Bimeh Bazar, discussed technology's impact on the insurance industry. He stated: "The introduction of new technologies in insurance, especially in claims management, can address major bottlenecks in the sector. If technology simplifies and makes claims payment processes more transparent, public trust in insurance will grow, increasing its penetration rate."

Farahi spoke about the future of the insurance industry over the next decade: "Greater computational power and the use of AI will bring fundamental changes to insurance. AI can identify and manage risks while steering the industry towards health advisory services. These changes might eliminate randomness and pose risks to the industry's foundation."

Intelligent Data Infrastructure for Industry Growth

Farhang Farzan, CEO of Riton Company, stressed the need for intelligent data exchange infrastructure and digital identity in the insurance industry. He stated: "Establishing data communication protocols and semantic structures, along with a data network comprising insurers, insurtechs, sales networks, and regulatory bodies, can create an efficient and sustainable digital ecosystem for the insurance sector."

The Role of Data in AI Transformation

Hamed Valipouri, CEO of Azki Company, highlighted the importance of data in the insurance industry. He said: "Currently, data is a serious issue in Iran. Access to high-quality data without conflicts of interest is one of the main challenges facing the insurance industry. Unfortunately, there is no clear understanding of the distinction between data ownership and governance in our country. Data should be considered a shared asset to foster a culture of data sharing among businesses."

Valipouri addressed AI’s role in insurance: "Actuarial science and price discovery are areas where AI can bring significant changes. However, clean, shareable, and unbiased data is a prerequisite for this transformation. AI models must also be transparent to ensure commercial interests do not outweigh collective benefits."

He emphasized: "What we need today is clean and shareable data. Governance must revise its perception of data ownership and strengthen a culture of data sharing among businesses. Under these conditions, AI can offer better solutions to society and guide the insurance industry towards transparency and fairness."