The potential implications for insurers are staggering: reduced accuracy in underwriting, higher loss ratios, and an inevitable increase in premiums for policyholders.

Lifetime income products are capturing more attention in a highly volatile economic climate.

“Generative AI holds transformative potential for the enterprise, but it can also create deep rifts within organizations that rely on a patchwork of point solutions or IT-built applications developed in a silo,” said May Habib, CEO and cofounder of the generative AI platform Writer.

AI-powered recruiting tools analyze customer retention rates, policies sold and geographic reach of agents.