Large language model breakthroughs have unlocked opportunities to enhance claims processing and personalised recommendations, Cover Genius CTO Peter Phillips says. 

AI implementation at scale is “well under way”, transforming work areas from underwriting to customer relations.  

“AI is poised to revolutionise nearly every aspect of the insurance landscape,” Mr Phillips told insuranceNEWS.com.au.  

While chatbots have so far been “rudimentary” – understanding only basic queries – advanced reasoning models can greatly improve them. 

“If an insurance company can leverage AI to grasp user intent more accurately, it can provide a much more accurate answer – moving beyond simple keyword matches that often miss the mark and lead to frustration. This results in faster, more precise responses to customer queries,” Mr Phillips said. 

“AI is unlocking better ways for customers to interact with insurance platforms and get the information they need quickly and easily – whether for a claim or information about policies.” 

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