The impact of generative AI on the insurance industry

Insurance
30/10/2024 Article
profile picture of Fatih Öğün

Fatih Öğün

Akbank

Senior Vice President, Head of Strategy

Fatih Ogun, Head of Strategy at Akbank, explores the multifaceted impacts of GenAI on the insurance sector, highlighting key use-cases and examples to underscore its transformative potential.


The insurance sector, traditionally rooted in risk assessment and management, stands on the brink of a significant transformation driven by the advent of generative AI (GenAI). This technology, with its ability to analyze vast datasets and generate predictive models, is set to redefine the competitive landscape of the industry. GenAI is not just an incremental advancement in technology; it represents a paradigm shift in how insurers approach everything from customer service to risk assessment and policy pricing. 

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