The business of insurance is the business of risk. Understanding, anticipating and managing the potential impact of change enables people, organisations and society to progress. So we find it especially relevant now, to consider how one of the biggest business innovations in recent times – Generative AI – should be understood, anticipated and managed in the insurance sector. Not only in the sector, but also for the sector.
AI has already transformed the insurance domain: chatbots, image analysis and NLP are almost commonplace and expected. Insurers have made enormous improvements in their business processes while simultaneously enhancing their customers’ experience. Gen AI will accelerate and broaden that impact, because it will enable new expressions and innovations along the entire value chain.
This content sheds light on the vast potential for Gen AI in the insurance market, and how the industry can leverage the benefits within the tacit boundaries of ethics and responsibility.
• ‘Understanding’ the potential for Gen AI in insurance.
• ‘Anticipating’ Gen AI in the insurance domain.
• ‘Managing’ Gen AI in the insurance domain.
• Shifting regulatory landscape.
• Risk management and regulatory alignment.