Michael Niemerg and co-authors share an expert, sensible, and industry-centric perspective in Insurance Thought Leadership.
We’re all bombarded with news of the latest generative AI models and how they will radically transform the way we do business. But in the life insurance sector, carriers sell products that are literally expected to last a lifetime. That exceptional need for trust between parties calls for a carefully measured assessment of opportunities—and risks.
With that in mind, Michael Niemerg, Principal and Director of Data Science at IntelliScript, collaborated with other Milliman experts on a level-headed think piece for Insurance Thought Leadership. They consider:
- The way an AI tool with flexible, generalist capabilities may replace numerous specialized software tools
- How communicating with digital systems increasingly resembles communicating with humans, which can make interacting with machines more pleasant
- The ability of AI systems to deliver personalized customer experiences while simultaneously improving efficiency
- How AI may free humans to engage in more creative tasks, thus facilitating further innovation
All this can optimize current practices and expand carriers’ capabilities, for example training a large language model to spot fraudsters before they’ve even had time to commit frauds. The co-authors also touch on the build vs. buy decision and its associated risks. (We are, after all, in the risk assessment business.)
For an expert, common-sense perspective on the ways generative AI can deliver value and improve customer satisfaction in the life insurance sector, check out the article in full at Insurance Thought Leadership
