People are talking about ChatGPT, the AI-powered chatbot capable of processing mountains of text data, providing detailed responses to questions, and engaging in conversation like a human. We decided to put ChatGPT to the test and to consider the implications this tool and others like it may have for the insurance industry.
The convergence of big data, electronic health records, machine learning and human expertise is modernizing the life insurance process – in measured steps.
Suppose insurers could throw away their old playbook and envision the future of insurance, unencumbered by exhausted methods, slow-moving platforms, and legacy constraints. What new possibilities would come to light?
Technology can help insurers reconcile the need for speed with the need for careful risk assessment.
Interview with Samantha Chow on "the state of life insurance underwriting now, in the wake of all of the changes brought on by advances in underwriting data sources and technology."
With a sweep of a smartphone camera, waves of infrared light penetrate the skin and beam back biometrics based on blood flow. It sounds like science fiction, but this electro-optic technique – photoplethysmography (PPG) – is real and the subject of rising insurer interest due to its affordability and array of potential digital applications.
Differentiated products and services are key to growth among life and annuity carriers. Underwriters are poised to help drive this new growth, but they need the right tools and training.
From voice assistants to personalized recommendations on streaming services, machine learning is a branch of artificial intelligence that many of us encounter daily and makes our lives easier.
Life insurance-linked wellness programs were first developed more than 20 years ago, and insurer interest in these programs has continued to grow ever since. Nevertheless, all these years and seemingly countless program launches later, the industry has yet to fully realize the potential of wellness initiatives.
In this edition of ReCent Medical News, Paul Edwards explains why health and fitness data captured through the use of wearables is potentially very meaningful for life insurance underwriting.