As GenerativeAI (GenAI) continues to expand across the insurance and reinsurance sector, Elad Tsur, Co-Founder and CEO of Planck, explained during a recent interview with Reinsurance News how the technology can play a key advantage in helping to reduce loss ratios and bring more competitive rates to end customers.
In terms of loss ratio, Tsur explained that if organisations want to strive for optimization within their expense ratios, which is becoming very topical within the industry today given the current market environment, then it is essential that they do this while maintaining their loss ratios.
