Australia insurance body CEO warns AI threatens broking
Insurance Council of Australia CEO Andrew Hall has warned that artificial intelligence threatens the existence of insurers and brokers.
Speaking as the Insurance Council of Australia joined the Association of British Insurers, Insurance Bureau of Canada and Insurance Council of New Zealand in forming the Four Nations Insurance Alliance today (6 October), Hall said AI was developing beyond expectations in terms of both its potential risks and its impact on how insurance is sold.
His comments come after, back in February, several broker share prices fell following OpenAI’s approval of apps offering personalised home insurance
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