Generative AI model evaluation and usage in Insurance

Insurtech Story Podcast

Feb 5 2024 • 20 mins

In the dynamic landscape of insurance, the integration of generative AI models has emerged as a transformative force, reshaping traditional approaches to risk assessment, claims processing, and overall decision-making. As these sophisticated models become integral to industry practices, questions surrounding their evaluation metrics, real-world applications, and ethical implications become paramount. In this podcast, we delve into the intricacies of generative AI's role in insurance, exploring key metrics, practical successes, and the ethical considerations that guide their development. Join us as we navigate the intersection of artificial intelligence and insurance, unraveling the promises, challenges, and evolving landscape of this cutting-edge technology. Points of Discussion: 1. How do you see the evolution of AI/ML solutions being used in Insurance industry, and the changes being brought by Gen AI technology? 2. Can you provide examples of successful Gen AI applications in insurance, and what lessons have been learned from these implementations? 3. What ethical considerations and steps are being taken to address potential biases in the development and deployment of Gen AI models in the insurance industry? Speaker Bio: Goutam Kanjilal leads the Global Delivery-Insurance operations at Exavalu. He is a seasoned technology professional with over 25 years of experience in the IT industry focused on Insurance customers across geographies. Over the years, he has played various management and leadership roles in Insurance Consulting, Market Development, Product Development, Program Delivery, Practice Development, and Delivery Management. Before joining Exavalu, Goutam was part of Cognizant, where he played various key roles within Insurance practice. Goutam has been involved in several strategic initiatives where he worked closely with global and regional Insurers in their core and digital transformation programs in the Life, Group Benefits, Retirement, and P&C domain. Goutam holds a B.E. in Mechanical Engineering.