Generative AI has captured the collective imagination of the world for its ability to produce refined data, drastically simplify workflows and enable quicker turnaround times. For a landscape that has traditionally used human-centric manual methods of underwriting, claims processing, and customer service, the insurance industry is being presented with a game-changing opportunity to address many long-standing challenges.
But where exactly does the insurance industry stand on Generative AI and its impact on daily operations across the value chain?
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