As generative AI transitions from an emerging innovation to a tried-and-true tool, this multi-use technology has given way to key use cases for the risk and insurance space. According to a recent study, by the end of 2023, half of insurers will have tested generative AI solutions, with more than 25% planning to have solutions in production by year-end.
For claims administration, a function characterized by heavy workloads and repetition, generative AI can reduce administrative costs, streamline workflows, and reduce reliance on manual processes. Ultimately, leveraging generative AI for streamlined claims handling will enable adjusters