NEW GEN HEALTH INSURANCE: A GEN AI APPROACH FORENHANCING CUSTOMER EXPERIENCE

Since the introduction of ChatGPT in late 2022,generative artificial intelligence(GenAI)has elicited enormous enthusiasm and serious concerns. [Wachter, R. M et al., 2023] History has demonstrated that general-purpose technologies have been implemented and have successfully delivered their promised benefits for many years. The health insurance industry possesses several attributes that must be considered when deploying new technologies. GenAI tools, such as ChatGPT and large language models (LLMs), have processed vast amounts of data and are well-trained for various business use cases. We have explored several hypothetical use cases of GenAI applications to enhance customer experience in health insurance,including personalized policy recommendations,chatbot integration,streamlining the claims process,predictive analytics for customer engagement,leveraging health tracker data for wellness tips, and sentiment analysis of policyholders' feedback. This paper discusses the hypothetical use cases and their benefits or uses to enhance customer experiences but does not delve into the technicalities of how GenAI can be implemented.