Behzad Salehoun and Serena Chan // June 11, 2024 
(Image credit: Igor Omilaev/Unsplash.)
For the past few years, P&C insurers have been primarily focused on modernizing core systems, including those pertaining to policy administration, claims, billing, and broker management. Innovations such as the Internet of Things (IoT), sensors, wearable devices, gamified applications, blockchain, driverless cars already present opportunities for insurance carriers and other industry players to reshape the design and delivery of products and customer experiences.
Now GenAI is set to further accelerate this revolution across a range of insurance-related activities and functions, from distribution, rate making and