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.
Effective use of generative AI will help insurers improve expense ratios, more effectively target distribution and control losses.
Because public large language models learn from the data that users submit, insurers must be cautious about the information they expose.
Customer-facing technologies will likely gain the most as today's chatbots give way to smarter interactions.
Increased computing power allows insurers to learn from huge data sets.
