How Generative AI and ChatGPT are Reshaping the Insurance Industry
Because public large language models learn from the data that users submit, insurers must be cautious about the information they expose.
AI will help managing general agents better mask specific risks to individual capital providers.
Widening use of AI will allow insurance professionals to focus on the value-added aspects of their roles, not on mechanical functions.
Increased computing power allows insurers to learn from huge data sets.
Effective use of generative AI will help insurers improve expense ratios, more effectively target distribution and control losses.
