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