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.
Because public large language models learn from the data that users submit, insurers must be cautious about the information they expose.
MGAs and insurers will have a deeper understanding of what business is productive and which existing accounts should be re-examined.
Widening use of AI will allow insurance professionals to focus on the value-added aspects of their roles, not on mechanical functions.
AI will help managing general agents better mask specific risks to individual capital providers.
