Generative AI in Insurance and more!

It has become familiar to see some recent viral posts on how ChatGPT can write multiple rap songs, explain sophisticated topics to a five-year-old, or help a man admit his wife is always right by saying 5+2=8. Entertainment aside, there have been many applications across multi-functional teams in businesses; what are some of the actual use cases of #GenerativeAI in the insurance context?

In the generative AI and insurance article, Damien Philippon explained how AI recommendation tools could help insurers speak the consumer language and send out messages that can explain insurance products in the most relevant way to that specific consumer.

Along the same line of personalized customer experience using technology, Brian Poppe , Chief Data Officer at Mutual of Omaha , spoke about using data to personalize customer experience without being too intrusive or creepy in #InsurBREAK Podcast. He mentioned "ask once, remember always" as an example of that: if customers have already filled in a form or answered some questions such as phone number, and home addresses, they expect the subsequent calls with their agent to be insightful without having to repeat their answers.?

We spoke about personalization for consumers. What about the personalized experience for producers? Great customer experience starts with exceptional agent experience. Do you agree?

In the Harvard Business Review and American Stress Institute in 2017, 78% of customer service representatives believed using AI-based solutions positively impacted their organization. In France, The recent partnership between MAIF and Zelros Recommendation Engine highlights how AI helps to personalize product messaging to consumers' needs. One of the first use cases implemented by this tool was regarding electric vehicle insurance. In the US, we spoke with Jason Niehus ( Nationwide ) and Bobbie Collies ( Coterie Insurance ) in a webinar hosted by Insurtech Insights about how we can help producers to navigate product complexity and improve their skills and knowledge.?

For Carriers or MGAs, who are looking for an AI tool to help their producers tackle the dual challenge of growing customer expectations and increasingly complex products, you can count on us. Zelros provides an AI-based tool called Agent Effectiveness that can be integrated natively into the producer's CRM system and helps them get insights into consumer protection gaps.

In our economic survey report last year, 64% of 1000 participants said they would pay more for an insurance policy if the company focused on responsible technology, sustainability, and diversity. Just this past fall, the White House announced a Blueprint for an AI Bill of Rights. Here are the best practices that Zelros uses, and Linh Ho shared this knowledge in her recent article on Forbes to help AI-based solutions follow the basic tenets of responsible AI.?

Last but not least, February is a month of love and, should we also say, life insurance advocates for “Protect your loved ones.” However, as mentioned on Bloomberg, younger people across Canada, the U.S., and Europe are less likely to have life insurance compared to older generations, with just more than half of those aged 18-34 covered. Do you, as carriers and MGAs, wait for consumers to reach out??