CaptiveGPT
The recent article published by Captive Insurance Times, “CaptiveGPT,” by Randy Sadler, Principal Chief Marketing Officer at CIC Services, discusses the potential benefits of using AI platform ChatGPT for captive insurers within the insurtech industry. While there is concern about AI development, ChatGPT offers various advantages, including efficient business operations and enhanced customer service. Despite slow adoption in the insurance industry, there is ongoing exploration of its potential applications. ChatGPT can assist in risk management, underwriting support, claims processing, customer service, and data analysis, providing quick and accurate responses to inquiries and automating routine tasks. The technology aligns with the industry’s focus on emerging risks and creating tailored insurance solutions.