Insurtech Concirrus has added a privacy layer to its submissions offering that it believes enables providers to increase their submission handling productivity by 400%, without compromising customer privacy.

Vinod Singh, chief technology officer at Concirrus, said: “While embracing advanced technologies and riding the wave of the AI evolution, utilising tools such as ChatGPT is tempting, these emerging technologies come with inherent risks that must be carefully managed to harness their true benefits.

“Articles continue to emerge highlighting concerns about data leakage and privacy issues with ChatGPT itself explicitly warning users about the risks of providing confidential data.

He added: “We have developed a privacy layer that enables us to leverage the capabilities of Large Language Models such as Google Bard or ChatGPT from Open AI.

“This allows us to seamlessly convert submission emails and attachments into structured data that is then ingested by our data analytics platform, Quest, all the while ensuring the security of sensitive data and preventing any data leaks.”

Concirrus said using automation to streamline the process and addressing privacy issues, enabled it to create a workflow that integrates with an insurer’s pricing engine and to support faster decision-making.

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