How Generative AI and ChatGPT are Reshaping the Insurance Industry
Security and privacy mishaps will draw regulators deeper into the regulation of AI use in insurance.
Increased computing power allows insurers to learn from huge data sets.
Widening use of AI will allow insurance professionals to focus on the value-added aspects of their roles, not on mechanical functions.
Customer-facing technologies will likely gain the most as today's chatbots give way to smarter interactions.
Effective use of generative AI will help insurers improve expense ratios, more effectively target distribution and control losses.
