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ARTICLE · 10 JULY 2023

Generative AI's Impact On Insurance Coverage: An Interview With ChatGPT-4 And Coverage Counsel On What Policyholders Should Be Doing Now

Pillsbury Winthrop Shaw Pittman
Explore more from Pillsbury Winthrop Shaw Pittman

Generative AI is transforming our economy in previously unimagined ways, with Goldman Sachs estimating a $7 trillion (7%) increase in global GDP by virtue of this ecosystem.

United StatesInsurance
Tamara D. Bruno
Tamara D. Bruno
Peter M. Gillon
Peter M. Gillon
Jesse N. Vazquez
Jesse N. Vazquez

Generative AI is transforming our economy in previously unimagined ways, with Goldman Sachs estimating a $7 trillion (7%) increase in global GDP by virtue of this ecosystem. Insurance is but one sector that will be impacted, with new products, services and opportunities for efficiencies being the most obvious benefits. For insight into the insurance implications of this technology, we asked AI oracle du jour ChatGPT-4 the top three ways it believes generative AI will impact policyholders.

Here's what it said:

  1. By analyzing a broad range of data, AI could create personalized policies with coverage and pricing that accurately reflect each policyholder's risk profile. This could lead to better coverage and potentially lower costs for many policyholders.

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