AUB Group CEO Mike Emmett says the company has seen no cannibalisation of its broker channels since launching the BizCover ChatGPT app earlier this year.

It is early days, but artificial intelligence appears to be expanding the market by prompting some previously uninsured small businesses to recognise cover needs, he told an earnings briefing.

AI-assisted research is increasing customer confidence in digital intermediaries such as BizCover, including among those who previously approached insurers directly.

“We continue to monitor lead quality, conversion and channel overlap as volumes develop, noting we are not observing any cannibalisation of AUB’s existing broker channels,” he said.

“Rather, we are seeing the capture of business from other non-traditional digital search engines or comparison channels.”

Mr Emmett says the group is “firmly of the view AUB is an AI beneficiary” and is deploying other initiatives.

“We are now embedding AI into broking, underwriting, claims and operational workflows to reduce administration, create more capacity for client-facing work, improve decision-making and deliver more consistent client outcomes,” he said.

“Over time, we expect this to support growth, margin improvement and differentiated insurance capabilities.”