Gen AI is particularly useful to search, generate, classify, cluster, and summarize information as well as extract valuable data and insights which could prove useful in the claims process.

Integrating artificial intelligence into the world of banking and finance must be a cooperative effort between the industry and regulators. It's important that the discussions start now.

Start thinking ahead about Gen AI now, Geico marketer says. Insurance industry analysts expect more investment in and adoption of Gen AI by carriers in the coming year.

Digital Insurance's top AI insurance stories including topics related to Gen AI and regulations.

The National Association of Insurance Commissioners, comprised of U.S. state insurance regulators, issued a policy bulletin calling for insurers to set governance and risk principles for the use of AI, and take responsibility for third-party data and systems.

Nearly one-third of public companies are using artificial intelligence in their financial reporting, according to a new survey.

73% of insurance executives expect artificial intelligence to take their jobs, according to report.

Insurers are feeling the effects of the climate crisis but only 8% are currently attacking climate change head-on with strategic and proactive initiatives, according to Capgemini research.

These companies are leveraging AI, machine learning and cloud technology.

Insurers considering using Gen AI for claims, underwriting and other operational functions will need to watch out for "hallucinations," the phenomenon of Gen AI language models producing inaccurate or nonsense results.