(This article is a translation from an original post in French - here - written by Eric Gaubert)
Since the launch of ChatGPT by OpenAI on November 30, 2022, the adoption of artificial intelligence (AI) in various sectors, including insurance, has significantly increased.
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Insurance companies have adopted different strategies to integrate these technologies into their processes. AXA and BNP Paribas have formalized their collaboration with Mistral AI, the French unicorn specializing in developing advanced AI solutions. This partnership aims to improve business processes, increase operational efficiency, and offer personalized services to their clients.
Beyond these significant announcements, the market for European AI-focused insurtech is thriving: over €997 million invested (nearly 20% of total insurtech investments) and more than 64 deals since 2020 (nearly 20% of the insurtech market deals).
These insurtech companies (around 70 in Europe) are deployed across the entire insurance value chain. Let's zoom in on four startups: Shift Technology (fraud detection), Tractable (auto claims analysis), Zelros (CRM solution for enhanced advisors), and Envelop Risk (cyber reinsurance solution). There are many others. Want to know more?
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