Insurer Zurich experiments with ChatGPT for claims and data mining
Insurer Zurich is testing how it can use ChatGPT artificial intelligence technology in areas such as claims and modelling, as it responds to the challenge posed by start-ups and bigger rivals, including China’s Ping An.
It is the latest example of long-established businesses, from law firm Allen & Overy to newspaper publisher Reach, experimenting with the technology.
Some insurance start-ups, such as Lemonade, have built their claims processes using AI, which can result in payouts being made on the spot. But despite these technology advances, big underwriting losses have weighed on their valuations.
This story originally appeared on: Financial Times - Author:Ian Smith
