How Generative AI and ChatGPT are Reshaping the Insurance Industry
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.
Because public large language models learn from the data that users submit, insurers must be cautious about the information they expose.
Effective use of generative AI will help insurers improve expense ratios, more effectively target distribution and control losses.
Security and privacy mishaps will draw regulators deeper into the regulation of AI use in insurance.
