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Lessons from cyber insurance for the emerging Generative AI insurance market
Based on insights from the market for cyber-insurance products, this article explores how the generative AI insurance market is likely to develop. Insurance providers’ next big opportunity — and challenge — is to determine how much exposure to the risk...
17 Oct 2024
3 mins read
Based on insights from the market for cyber-insurance products, this article explores how the generative AI insurance market is likely to develop.
Insurance providers’ next big opportunity — and challenge — is to determine how much exposure to the risk of generative AI tools they should accept from their policyholders.
In this article, I identify three obstacles to the growth of an efficient market for Generative AI that will require the collaboration of insurance providers, policyholders, risk consultants and regulators.
Generative AI is at the peak of Gartner’s “hype cycle” in 2024, with many insurance providers and policyholders experimenting with ways the technology might deliver them productivity gains.
While the technologies offer the potential for significant benefits, they also pose significant risks.
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