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Cutting the Bluster on AI in Group Health Underwriting

Amid demand for transparency and stricter privacy regulations, now is a good time be level-headed about the AI hype.

by Dan Becker, FSA, MAAA

Generative AI tools like ChatGPT are dominating headlines and causing veteran execs in almost every industry, including insurance, to wonder how such tools will change their business. In the group health space, more and more vendors seem ready to exploit the current fascination with AI by breathlessly invoking it as they peddle their wares.

True to character, our Curv® Group Health clients are generally skeptical of hype while they also remain understandably curious; generative AI definitely comes up in conversation. And it’s very likely that it will affect almost every industry including ours, but it’s too early to say how it will be used (or regulated) in group health underwriting.

For the time being, predictive models remain the most advanced form of AI in regular use in the insurance industry, and even their workings are still a bit mysterious to many underwriters. Now is good time to clear up some of that mystery, because demand for transparency is growing and privacy regulations are getting stricter and more punitive.

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