In this edition of our InsurTech Unplugged series, Barry Duffy, VP Digital and Data, and Sarah Holdaway, VP Product Management, discuss the current and future impact of Generative AI (GenAI) in the life, accident and health insurance industry. They explore how GenAI is revolutionizing document summarization and customer engagement, highlighting its potential to streamline processes and enhance decision-making. The conversation also focuses on the importance of human oversight, regulatory considerations, and the need for effective change management as AI tools are integrated into existing workflows.
- GenAI enhances existing technologies by enabling integrated chats, document summarization, and accessing content within documents, making them more powerful and applicable to business use cases.
- The life, accident, and health insurance space will significantly benefit from GenAI by accessing and extracting actionable information from documents, despite regulatory challenges and the need for human oversight.
- When integrating GenAI in processes, it’s crucial to maintain human oversight, ensure transparency, and focus on solving real problems while embracing the non-deterministic nature of AI.
