Half of U.S. small and medium-sized businesses (SMBs) suggest they are comfortable with an artificial intelligence tool determining their insurance premium, according to a GlobalData survey. Meanwhile, Simply Business launched a business insurance app within ChatGPT for customers in the US and UK.
As part of GlobalData’s 2025 SME survey, 49.8% of U.S. SMBs said they are comfortable with an AI tool determining their insurance premiums. This already demonstrates a good level of comfort, which should increase as companies become more familiar with AI. However, this compares to a global average of 58.6% across the 14 countries surveyed, suggesting the United States is slightly behind other markets.
Meanwhile, Simply Business launched a business insurance app within ChatGPT in the US, along with a separate version in the UK. The app links directly to its indicative pricing tool, allowing small businesses to receive a quick price estimate by entering three details: their business, estimated annual revenue and postcode. Users are then redirected to the Simply Business website to complete a full quote and purchase securely.
This type of integration offers clear benefits, making it faster and easier for SMEs to access pricing, thereby reducing friction in the purchasing process and meeting growing expectations for on-demand digital services. However, challenges remain. A live survey from GlobalData (with 3,601 responses on the Verdict and Business Trade Media International sites at the time of writing) found that 46.3% of companies are unsure about integrating ChatGPT into their existing workflows and systems. This highlights a gap between interest and practical implementation.
Insurers that can close this gap with simple, well-integrated solutions are likely to be better positioned. As adoption grows, those able to integrate tools like ChatGPT seamlessly into existing systems will be better positioned to capture demand and differentiate themselves in an increasingly competitive market.
“Insurers that effectively integrate ChatGPT will gain a competitive advantage with SMEs,” was created and originally published by Life Insurance International, a brand owned by GlobalData.
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