We have heard about AI for years (decades?). But it wasn’t until ChatGPT lurched onto the world stage earlier this year that AI was on everyone’s mind. Text based AI tools are becoming common technological staples right up there with search. The new word that can out of the ChatGPT launch was the word “generative”. The generative in generative AI refers to new technology where the AI can take a small training set of data and synthetically create new data from which it can continue its training. So it can train faster on less data.
We are now seeing more AI technologies being marketed inside the insurance ecosystem. It started in claims, with fraud detection and is now knocking at the door of underwriting.
In this episode of Profiles in Risk, Tony chats with Alex Schmelkin, CEO and Jane Tran, COO at Sixfold, the first generative AI for insurance underwriting! They help insurance underwriters be more efficient, find more capacity and be more accurate in their jobs.