Insurtech has revolutionized the insurance sector by making it more accessible, transparent and tailored to individual needs, which benefits both insurers and consumers.

As the new year begins, TechRepublic Premium spoke with a variety of experts to hear their thoughts on where the insurtech ecosystem is heading.

From the article:

Forrester VP principal analyst Michele Goetz is on the same page. She noted, “A major insurer will offer a specific AI risk hallucination policy. Gen AI’s propensity for hallucinations or errors changes the calculus for risk management and complicated risk transfer strategies.”

“Insurers have tried to close coverage loopholes while expanding their list of exclusions around AI hallucinations,” she stated. “But given gen AI’s expected growth, vanguard insurers will be more willing to cover unique and hard-to-insure risks like hallucinations. In fact, hallucination insurance will be a big moneymaker in 2024.”

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