AI has been a major topic of discussion in the insurance industry over the past nine months, with many questions being asked about its potential impact. AI has already been used in various aspects of the industry, such as machine learning, deep learning, natural language processing, large language model, generative AI, and GPT. AI can be used to enrich the life insurance customer journey by transforming unstructured data into structured data with NLP, and by helping to assess applicants’ risk. Additionally, AI can be used to improve customer service, automate processes, and reduce costs.
