Keeping up with Generative AI
Presented by Oliver Wyman
Generative artificial intelligence (AI) has arrived in force and has the potential to transform many ways insurers do business. Poster child of the age of acceleration, it has gained daily media coverage, and its possibilities have captivated headlines.
Earlier this year, we explored the fundamentals of generative AI and the impact it may have in the insurance industry, as we saw many insurers experimenting with its potential. We are now seeing industry discussions progressively shifting away from “What is generative AI?” to “What can I do with generative AI that is impactful, and how soon can this impact be delivered?”. In this five-part article series, Oliver Wyman explores the world of generative AI through the lens of insurance industry leaders, addressing practical questions with the goal of helping the industry move forward — thoughtfully — on the impact curve.
Our initial edition discusses the generative AI opportunity for insurers, how significant generative AI will be for insurance organizations’ business strategies and ways-of-working, and how quickly the impact is likely to materialize.
At Oliver Wyman, we have been helping our clients think critically about generative AI opportunities across the value chain, pilot and scale use cases, and set up programs and portfolios to deliver immediate and long-term impact. Learn more.