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.
Effective use of generative AI will help insurers improve expense ratios, more effectively target distribution and control losses.
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.
MGAs and insurers will have a deeper understanding of what business is productive and which existing accounts should be re-examined.
