We sat down for a Q&A with Pierre Montersino, a seasoned expert in AI implementation, ahead of our AI: Negotiating the Pitfalls within Insurance & Financial Services roundtable, to explore what attendees can expect from the session.

Many leaders within financial services and insurance are guilty of using AI as a buzzword without actually utilising it as a strategic asset to enhance efficiency, improve customer experiences, and drive innovation.

There’s no denying that it can be challenging to translate AI into tangible actions that benefit a business if you aren’t sure how to implement it successfully or truly understand how it works.

At the end of January, we’ll host an exciting breakfast roundtable session led by Pierre Montersino, a seasoned Transformation and AI expert, on navigating the common pitfalls of an AI transformation. This session will provide actionable insights to help attendees understand, execute, and benefit from AI within their organisations.

Pierre has been at the forefront of numerous AI transformations and has spent decades working with major players in the insurance and financial services sectors. With his extensive knowledge and professional insight, Pierre is exceptionally well-placed to guide those navigating this ever-changing digital landscape.

Ahead of the breakfast roundtable on 29th January, we sat down with Pierre to preview his session and learn more about his career and thoughts on why AI captures so much interest.

Tell us about your career in AI and what experiences qualify you to lead the AI discussion in financial services.

I’ve been in the financial services and insurance sector for over 20 years, consulting with major insurance and banking organisations. I started with consultancies in the UK before transitioning to Indian companies like Wipro, Infosys, and NTT Data, where I was the CIO. This breadth of experience in both financial services and insurance gives me valuable insight.

Where I add particular value is my focus on AI over the past three or four years. I’ve upskilled in this area and helped several insurance and banking organisations and a couple of charities embed AI and generative AI. There’s a vast difference between these technologies, given AI’s broad scope.

I enjoy engaging with senior executives, and my experience as a CIO, coupled with my 20 years working with global banks and insurers, makes me well-equipped to discuss AI from both a strategic and technical perspective.

What draws people to learn more about AI implementation?

The challenge is that everyone’s heard about AI as a shiny new tool, but few understand it fully.

AI is layered, like an onion—there are eight or nine distinct aspects under its broad umbrella. Curiosity drives much of the interest, but businesses often seek concrete examples of how AI can deliver results. Many prefer to watch others take the leap first, seeking proof of success before investing themselves. That’s where I can help.

Do organisations delay AI implementation because they perceive it as overly complex?

Absolutely. The banking and insurance sectors are particularly cautious due to several challenges. The first is leadership—executives hear about AI’s potential but often lack the knowledge to take the next step.

Secondly, data is critical. In any AI initiative, including generative AI, data is king. Failing to manage data correctly leads to project failure.

Thirdly, businesses need to know how to leverage AI for efficiency and effectiveness. The insurance sector, for example, holds vast amounts of historical data they aren’t utilising fully. AI can drastically cut the time needed to review claims histories—from several days to mere seconds—offering immense potential savings.

Are any companies currently embracing AI?

Yes, some banks and insurers have taken the plunge.

A notable example is an insurance firm that moved all its data to the cloud and consolidated its claims processing. This transition enabled AI integration, allows the organisation to access comprehensive customer history during interactions. While many organisations are cautiously optimistic, they remain unsure of the long-term impact and financial outcomes.

Is this caution warranted?

Yes, to some extent. Financial services are regulated by bodies like the FCA and PRA, and GDPR are emerging. Implementing AI on top of these requirements can be challenging.

There’s also the human element—uncertainty about AI’s impact, including job security. Many fear job losses, making AI adoption a continuous, evolving conversation. Nonetheless, there’s truth to the notion that those who embrace AI will thrive, while those who resist risk falling behind.

What will attendees take away from your roundtable session?

I aim to demystify AI, clarify challenges, and address attendees’ concerns. The session will be a dynamic discussion shaped by participants' perspectives, helping them navigate AI’s complexities.

I encourage attendees to reflect on where AI could benefit their organisations beforehand. This preparation allows me to share tailored use cases demonstrating AI’s practical applications and advantages. My goal is for attendees to leave with clear, actionable insights into how AI can drive value.

It’s been fascinating to learn a bit more about our Pierre ahead of our upcoming ‘AI: Negotiating the Pitfalls within Insurance & Financial Services' breakfast roundtable next week. We’re confident that with the help of his knowledge and his interesting insights, our attendees will leave the session feeling empowered to start effectively leveraging AI as a strategic asset within their organisations.