How Generative AI and ChatGPT are Reshaping the Insurance Industry
AI will free many agents from clerical functions, lowering expenses. But in times of stress, many policyholders prefer personal interactions.
Generative AI is a natural adjunct in an industry that is focused on documents and finance.
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.
Security and privacy mishaps will draw regulators deeper into the regulation of AI use in insurance.
