What is the best use of AI tools like ChatGPT and Bard in claims and litigation?
We asked CLM members and fellows: What do you think will be the best use of generative AI applications like ChatGPT and Bard in claims and litigation? Here's what they had to say.
“Claims is a people business and will always require critical thinking and judgment, but how we arrive at our decisions will evolve as AI evolves. Instead of being the ‘hunter and gatherer,’ the claims professional will be the ‘validator’ of information arriving from various data sources. The data sources running through the various applications will require disciplined management and controlled compliance procedures to ensure how we use the tools to aid us in making decisions and settling claims.”
Melissa Hill, Senior Vice President, Head of Claims, Sompo International. CLM Fellow since 2015.
“With the increasing presence of AI applications, I anticipate that the best use of ChatGPT (generative pre-trained transformer) and Bard will be to assist in taking the first notice of loss, especially in catastrophe claims; aiding in around-the-clock resource referrals to insureds in emergency situations; and the ability to take contact information updates from callers with full verification.”
Nikki-Ann Thomson-Parkinson, Insurance Risk Director, Priderock Capital Partners, LLC. CLM Fellow since 2023.
“Despite the hype, we’re still in the early stages of the ML/AI revolution, and a majority of the work is still exploratory. Considering social inflation, the best return may rest with testing large language problems to determine the propensity to litigate and ultimately assist in managing severity.”
Timothy Queen, Head of Insurance Consulting, Cognizant. CLM Fellow since 2023.
“With the rise of generative AI applications, it appears the best use of this technology would be to draft correspondence and form legal documents. As a caution, these emerging technologies should not be used to substitute legal opinions, as many experts have warned that this type of reliance could lead to issues of malpractice.”
Thaddeus Harrell, Partner, Dinsmore & Shohl LLP. CLM Member since 2021.
One Trillion
Estimated number of connected devices by 2025.
Source: McKinsey
$1.3 Billion
Expected amount saved by auto, property, life, and health insurers who invest in AI.
Source: KPMG
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Fran Clark is specialty content manager at CLM. fran.clark@TheCLM.org
CLM’s Cyber, Management & Professional Liability Community helps raise awareness of issues and trends in the management & professional liability insurance marketplace, with an emphasis on litigation management through a collaborative effort between insurance companies and brokerages, claims organizations and service providers.
