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.
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.
Security and privacy mishaps will draw regulators deeper into the regulation of AI use in insurance.
MGAs and insurers will have a deeper understanding of what business is productive and which existing accounts should be re-examined.
