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Is ChatGPT an insurance fraudster’s best friend?

October 12, 2023

The use of artificial intelligence (AI) to facilitate fraud insurance claims has grown over the past decade, especially as AI has become more sophisticated. But the entry of generative AI could drive insurance fraud to levels yet unseen, a digital intelligence expert told Insurance Business.

“With the technology that’s being built now, it’s easy for just the regular person who wants to exaggerate their claim to do so, as well as organized crime groups that want to make a larger play across multiple companies at the same time,” said Joe Stephenson (pictured), a former special investigator and current director of digital intelligence at claims technology firm INTERTEL.

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