ChatGPT is taking the world by storm. Like so many other organizations focused on digital transformation, we were immediately intrigued and wondered how we could help our carrier partners innovate using ChatGPT and other AI tools like it. Several RGA teams started looking into the possibilities for everything from underwriting to data analytics.
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Colorado is leading the way on regulation around insurers’ use of data with its first rules requiring life carriers to ensure the use of third-party data in life insurance underwriting does not discriminate against protected groups.
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Alternative data sources and supporting technologies are propelling today’s advances in underwriting, enabling acceleration. Accelerated underwriting is empowering insurers to speed processes and improve the customer experience.
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