How Generative AI and ChatGPT are Reshaping the Insurance Industry
Effective use of generative AI will help insurers improve expense ratios, more effectively target distribution and control losses.
MGAs and insurers will have a deeper understanding of what business is productive and which existing accounts should be re-examined.
Security and privacy mishaps will draw regulators deeper into the regulation of AI use in insurance.
Customer-facing technologies will likely gain the most as today's chatbots give way to smarter interactions.
Because public large language models learn from the data that users submit, insurers must be cautious about the information they expose.
