When it comes to gathering information for underwriting and general fact-checking, P/C insurers need to know which tool is right for the job. The age-old debate of Google Search versus ChatGPT AI has shifted as the landscape of AI technology evolves. In a recent webinar hosted by The Travelers Institute, experts discussed the key differences between the two, ultimately recommending that P/C insurers use both Google Search and ChatGPT in order to acquire the best results.
Google Search is a reliable source of current information. It provides users with links to various websites, as well as accurate statistics, quotes, and images. ChatGPT AI, on the other hand, is best used to ask open-ended questions to generate a response that can provide high-level insights into a topic. Unfortunately, it does not provide citations for sources, although it does offer an opinionated response on certain topics.
When testing the AI capabilities of ChatGPT, editors from Carrier Management asked the tool a question about when the last time State Farm reported an underwriting loss, to which it responded with an apology for its limited knowledge base. This is primarily because the AI tool only has access to up-to-date financial information up until September 2021.
Travelers Chief Data and Analytics Officer Mano Mannoochahr advised that it is best to use both Google Search and ChatGPT when acquiring information. Google Search gives users access to current information, while ChatGPT allows users to ask open-ended questions that can provide high-level insights into topics.
In conclusion, Google Search and ChatGPT AI are both important resources for P/C insurers to utilize when researching topics. While Google Search provides current information, ChatGPT can offer a comprehensive opinion based on its database. To ensure they are receiving the most accurate information, P/C insurers should make use of both Google Search and ChatGPT AI.
The Travelers Institute hosted a webinar to discuss the value of using both Google Search and ChatGPT AI in gaining the most accurate information. Presented by Mano Mannoochahr, the Chief Data and Analytics Officer of Travelers, and Girish Modgil, a Vice President of the company’s Automation and Artificial Intelligence Accelerator Program, various issues in regards to the two AI tools were addressed, including their capabilities, restrictions, and risks.
Mano Mannoochahr is the Chief Data and Analytics Officer of Travelers. He is also the Vice President of Customer Solutions Innovation. Girish Modgil is the Vice President of the Automation and Artificial Intelligence Accelerator Program at Travelers. In his role, he leads a team of experts in testing and evaluating the latest AI tools. He has also researched the use and impact of AI tools on the insurance industry.
