Chat GPT was launched a year ago in November 2022, and its existence has consistently brought to the forefront questions surrounding adoption and implementation of AI and technology. It comes as no surprise that insurers are increasingly exploring new opportunities made possible by generative AI. 

In this podcast, Matthew Grant speaks to Sam Taylor and Paul Merrey from KPMG to discuss how generative AI tools can be integrated into the insurance industry. The conversation covers the importance of education and experimentation with regards to the implementation of AI, as well as the exciting developments occurring as a result of KPMG Ignition as well as Microsoft Copilot.

Key talking points:

• How the insurance industry is embracing generative AI
• Why technology moves quickly and then slowly
• How generative AI can help people do their roles better
• Chat GPT the librarian
• KPMG’s Summer of AI: educate, adopt, and infuse artificial intelligence
• Why experimentation is key to understanding the power of generative AI

Want to learn more? 

Find below links to some key reading recommended by Sam Taylor and Paul Merrey on topics covered in this week’s podcast:

• Generative AI: From buzz to business value - 2023 KPMG Generative AI Survey Report
• KPMG/ Microsoft collaboration 
• Insurance and Artificial Intelligence - the benefits and ethical considerations: 
• Strategic Implications of Generative AI 
• Trust in Artificial Intelligence: A global study (kpmg.com)

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Continuing Professional Development - Learning Objectives

InsTech is accredited by The Chartered Insurance Institute (CII). By listening to any InsTech podcast, you can claim up to 0.5 hours towards your CPD scheme.

By the end of this podcast, you should be able to meet the following Learning Objectives:

• Identify key areas in which generative Artificial Intelligence can be implemented into the insurance industry
• Explain the positive and negative aspects of moving toward greater integration of Artificial Intelligence and Large Language Models
• List some of the recent technological advancements in the insurance industry

If your organisation is a member of InsTech and you would like to receive a quarterly summary of the CPD hours you have earned, visit the Episode 267 page of the InsTech website or email cpd@instech.co to let us know you have listened to this podcast.

To help us measure the impact of the learning, we would be grateful if you would take a minute to complete a quick feedback survey.