Generative AI: What it is and what it means for the insurance industry

Featuring Roy Goodart, VP Product Management, iPipeline and Hareem Naveed, AVP Integrated Analytics, Munich Re

ChatGPT and other Generative AI tools have taken the world by storm. This relatively new concept involves training models to generate new data, such as text, images, or videos, based on patterns and examples from existing data. So what does this mean for the insurance industry? In this session, we will discuss examples of Generative AI platforms, including ChatGPT, highlight their unique features and use cases in generating human-like text or conversational responses. Joined by Munich Re, we’ll dive deep into how Generative AI can enhance customer experience, streamline claims processing, automate underwriting, and improve risk assessment. We’ll provide real-world examples of how insurance companies are embracing Generative AI today to enhance processes without brushing over the very real concerns on data privacy, bias, security, and accountability so you can leave with new knowledge on best practices for ethical implementation of Generative AI into your business.