AI and ChatGPT in Insurance: Risk Assessment Tools
In the insurance industry, risk assessment is a critical process that determines the premiums and coverage a customer receives. Traditionally, this has been a labor-intensive task, relying on data analysts and actuaries to evaluate the probability of events and calculate risks. However, the advent of artificial intelligence (AI) has transformed how insurance companies approach risk assessment, making the process more efficient, accurate, and responsive to real-time data.
