OpenAI approves insurance quotes within ChatGPT

OpenAI has approved the first artificial intelligence (AI) application from an insurance provider on ChatGPT.

Built by Tuio, a Spainish digital insurer, the proposition enables users to receive personalised home insurance quotes within the conversational interface.

The move means that, for the first time, an insurance provider can distribute its products and offer quotes directly inside an AI platform.

According to Tuio, its AI app understands the user’s intent, collects the right information through natural conversation and returns an accurate, personalised quote from a regulated carrier, in real time, without leaving the AI interface.

Juan García, co-founder and chief executive at Tuio, said: “We’ve massively leveraged AI to improve our insurance experience and run more efficiently.

”Being the first provider live on ChatGPT allows us to convert new customers right at the point of discovery.”

Data

This comes after WaniWani data showed that AI currently drives close to 20% of new business for digital insurers. ChatGPT alone accounts for around 15% of website traffic.

This traffic also converts at significantly higher rates than historical search-originated leads. 

Raphael Vullierme, co-founder at WaniWani, said: “I spent almost a decade running an insurer, sitting inside the insurance value chain. I could foresee how AI would reshape distribution. Today is day zero of that transformation.

“For the first time, AI can access real offers, quote on behalf of the buyer and compare coverage in real time. Every insurer will be impacted, whether they’ve built an AI app or not.”