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ChatGPT is here: An opportunity or a threat?

Feb 3, 2023

Chartered Insurance Institute blog: February 3, 2023

As a long time follower of the UK market – I commence this piece with the ‘tech nudge’ from ‘Direct Line’. Fast forward it all to the arrival of internet, big data and ethical issues. Talking about ethics I bring in the hawk-eyed industry expert – Duncan Minty – who continues to challenge insurers/ regulators with many a profound issues.

I end this with an element of ‘wishful’ thinking wrt the just born but extra precocious ChatGPT. It can be multi-edged. If things do work well, ChatGPT may even facilitate potential solution/s for addressing climate change. Something that the insurance industry continues to struggle with. And finally, insurers may have no excuse to ignore the customer?!

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