Insurance Industry's Spreadsheet Governance Crisis.

Insurance Industry's Spreadsheet Governance Crisis. As carriers accelerate AI adoption, spreadsheet usage is rising rather than declining, creating critical governance gaps. Excel remains central to actuarial modeling, pricing, underwriting, and financial reporting, even as AI takes the spotlight. The real challenge isn't whether spreadsheets will persist, but whether spreadsheet-based logic can be governed and deployed at scale. AI-generated spreadsheets introduce new opacity risks. When actuaries build models manually, they own every assumption and can defend every decision. When AI generates models, the reasoning that makes logic defensible in audits isn't embedded. As spreadsheets get wired deeper into AI workflows, unapproved versions risk entering production without formal review, creating a dangerous gap between assumed and actual logic in use.