OpenAI warned of a surge in demand from insurance and financial companies as generative models move from experimentation to core infrastructure.
Insurers and banks are now incorporating AI into fraud checking, claims flow, customer support, and risk analysis, treating AI less like a side project and more like an operating system that keeps their businesses running.
According to FF News, European teams already working in earnest on product deployment are reporting tangible benefits that are no longer theoretical.
Its customer roster includes Revolut, Allica Bank, Hg, EQT and Permira, and the latest data from Zopa and OakNorth shows how quickly the use of tools expands once they become part of daily operations.
Matt Weaver, OpenAI’s head of solutions engineering in EMEA, said the regulated sector is not holding it back. He argued that companies with good governance and infrastructure often move faster than technology-first companies, which flips the usual narrative.
As AI moves from pilot to production, regulated industries will find themselves leading the way, not lagging behind.
Matt Weaver, OpenAI EMEA Solutions Engineering Lead
“Financial companies are showing how highly regulated companies can succeed with the right governance, strategy, platform and support in place,” said Matt Weaver.
According to OpenAI, Europe has become a testing ground for sophisticated deployments, with companies such as Revolut, BBVA and NatWest extending their models to sensitive and highly regulated environments.
In the insurance industry, generative AI speeds up claims, reduces fraud losses, and encourages insurers to make more personalized coverage decisions.
Early entrants already have a competitive advantage, but the gap is likely to widen as their models improve.
- Revolut pushes GPT-5 to its platform to tighten financial crime regulations and upgrade its assistant Rita, which still relies on tweaked GPT-4.1.
- Allica Bank uses AI to assimilate initial loan evaluations and uncover insights for its support team, cutting each case by approximately 20 minutes.
- OakNorth runs almost its entire operation with OpenAI tools. Approximately 90% of our staff uses 360+ custom GPTs for HR, compliance, legal, and asset management tasks, saving tens of thousands of hours each year.
- Zopa runs AI to discover vulnerabilities across 40,000 customer interactions per month and tests its AI banking assistant with 200,000 users.
- Permira uses ChatGPT Enterprise for investment analysis, risk reviews, and operational tasks and expects to generate approximately $450 million in AI revenue across its portfolio.
CTO Lionel Hill says 90% of his staff now use AI, a fourfold increase in a year, and his team is launching new tools in hours instead of weeks.
EQT followed a similar trajectory. Approximately 90% of our 2,000 employees use ChatGPT weekly and report saving approximately 45 minutes per day thanks to over 350 internal GPTs.
These tools are built into a governance framework built to accelerate analysis, enhance decision-making, and keep regulators calm.
