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.
Generative AI is a natural adjunct in an industry that is focused on documents and finance.
Increased computing power allows insurers to learn from huge data sets.
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.
