Recently, aig has turned to generative artificial intelligence (ai) to revolutionize its underwriting process, a critical component of the insurance industry This strategic move is not only aimed at enhancing efficiency but also at improving accuracy and customer satisfaction. The uk has chosen to take a less centralised approach to the regulation of artificial intelligence (ai) than the eu Financial services regulators are monitoring the growth in the adoption of ai within financial services sectors and working within their existing regulatory frameworks to supervise it. Both traditional and gen ai could empower organisations to enhance actuarial models, deliver personalised insurance cover, or even increase the pace of insurance claims But the process of doing so appears to be slow, with testing and implementation processes often taking several months to complete.
Aig’s leadership is eager to reap the rewards as it consolidates operations following its corebridge divestiture. Artificial intelligence (ai) is attracting attention as a revolutionary technology in the insurance industry In particular, the ai adoption efforts promoted by the american international group (aig) are playing an important role in shaping the future of the industry. Aig chairman and ceo peter zaffino talks about the potential benefits and risks of implementing artificial intelligence into the insurance industry. But that’s not the road to turbocharging growth that aig ceo peter zaffino envisions for his company. The conversation, moderated by cnbc anchor sara eisen, explored the impact of genai in aig’s core business —particularly in underwriting and claims
