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.
Customer-facing technologies will likely gain the most as today's chatbots give way to smarter interactions.
Security and privacy mishaps will draw regulators deeper into the regulation of AI use in insurance.
Effective use of generative AI will help insurers improve expense ratios, more effectively target distribution and control losses.
AI will help managing general agents better mask specific risks to individual capital providers.
