Hartford CEO says company will lead insurance industry in AI

The Hartford reported $639 million in core earnings for the first quarter of 2025.

CEO Chris Swift said the company is focused on deploying AI across claims, underwriting, and operations. “We will lead the AI implementation for the industry,” Swift said when asked to distinguish between legacy maintenance and transformative technology efforts. He outlined a long-term modernization strategy centered on core systems such as claims, billing, and administration, alongside a seven-year cloud migration initiative. Hartford’s platforms are now modernized across all business lines, with Guidewire serving as the primary vendor. Swift also highlighted investments in digital capabilities—particularly in group benefits—and efforts to better organize and utilize data.

In small business, Hartford posted quarterly written premium and double-digit new business growth, continuing a 19-quarter streak of sub-90 combined ratios. Growth was supported by strong quote flow, higher average premiums, and a 29% increase in E&S binding premium.

The company is actively reducing its workers’ compensation exposure, citing weaker pricing. “We’re shrinking our comp book right now… we’re not getting the rate across the board that we want,” Swift said.

In personal lines, written pricing increased 15.8% in auto and 12.3% in homeowners, with earned pricing rising even further—20% in auto and 14.4% in homeowners. Homeowners’ policy count continued to grow, while auto declined. Retention remained stable for both lines.

The expense ratio for personal lines rose to 27, up 1.7 points year-over-year, “primarily driven by higher direct marketing costs and to a lesser extent, a higher commission ratio, partially offset by the impact of higher earned premiums.”