Fears of AI causing a massive labor dislocation in the insurance industry are overblown

Executive Summary

• Who’s afraid of GenAI? While experts predict substantial positive economic effects from the rise of generative artificial intelligence, public sentiment is not  so optimistic.
• We find that fears of AI causing a massive labor dislocation in the insurance industry are overblown.
• The timing of the advance of AI seems to be fortunate.
• In fact, the timing of the advance of AI seems to be fortunate.