Technological turbulence caused by artificial intelligence (AI) is radically changing the way the insurance industry is thinking about business strategies, according to Comarch group CEO Jaroslaw Mikos.
“The world is quite turbulent – we know that there is a kind of economic turmoil as well as political turmoil – and last but not least technological turmoil coming from artificial intelligence (AI),” he said.
Speaking at the opening of Comarch User Group 2025 conference, Mikos (pictured) said: “This technological revolution that is happening is not only happening to us – it’s affecting everybody in this room.”
He highlighted that the firm was making major investment in AI and that by the end of July it will have 1,500 engineers trained in AI and using AI tools.
“I do believe that AI is reorganising the world and we need to be in front of it,” he continued.
“Our business model is to change because the world is changing. We know AI is changing the efficiency measures from the business perspective.
“AI should help us to be more efficient to address customer expectations and needs.”
M&A plans
In December CVC Capital Partners completed a takeover of Poland-based Comarch, with Mikos taking on the group CEO role in February.
The firm has 79 offices with more than 700 corporate customers globally and alongside the insurance industry, operates in the telecommunications, invoicing, banking, and wealth management sectors.
Mikos said the provider was focusing heavily on research and development (RND) but was also looking at mergers and acquisitions to expand.
“We’re spending more than 25% of our revenue on RND – we are really above the world benchmark and we retain that level of investment,” he continued.
“There are 1,500 engineers working on RND and we really want to retain that scale.
“We do believe in market leadership – we want to be number one versus number two in our markets – and that’s why we are really looking for organic growth, but also by acquisition.
“M&A speeds up the process of acquisition of talent and product innovation as building scale of the business.”