Ericson Chan Discusses AI Technology In The Insurance Industry

In this interview with Ericson Chan, Group Chief Information & Digital Officer at the Zurich Insurance Group, FF News’ Douglas Mackenzie asks how AI technology is being utilised in the insurance industry today. The Zurich Insurance Group is one of the world’s largest insurance providers and as of 2021, is the world’s 112th largest public company according to Forbes.

“There’s a lot [we can do] and AI is not new to us. We look at it, we talk about AI a lot of course recently everyone wants to talk about GPT, but AI has many different areas. AI is as it says, artificial intelligence, it’s just like a human being. There are many areas like cognitive, so sensing our visuals. That’s one area, and then another area is a knowledge base like an NLP natural language processing where the GPT comes in big time now with 3 going to 4.”

“They are a different area of AI. We use a different area of AI to embed into and improve our intelligence of the process. So it definitely is important, but before that, we need to make sure we have the foundation well built. Data needs to be there, and then how do we leverage it? So we need to have the skills of how to leverage AI.”