“GenAI is fundamentally reshaping the role of humans”

Generative AI is developing at a rapid pace, and its influence on industries such as insurance is becoming more and more tangible. The ERGO Innovation Lab is intensively exploring the potential of multimodal AI and has recently published a second white paper on this topic – just one year after the first. In this interview, Georgina Neitzel, Head of the ERGO Innovation Lab, talks about the motivation behind the white paper and the opportunities and challenges posed by GenAI.

Hello Georgina, to start with, please tell us what the main motivation was for creating this new white paper. You already wrote a first one on this topic a year ago. Has so much changed in the meantime?

Thanks, Markus, for having me and yes, let’s go!

Multimodal language models mark a real turning point in human-machine interaction. They have fundamentally changed how we interact with machines because they can process different inputs, such as text and images, simultaneously - just like humans do. They do this quickly, accurately, and with much more context-rich responses than ever before. This opens up new possibilities that simply weren’t feasible before.

For example, instead of filling out forms and waiting for manual review, today, a photo with a short audio description is enough, and the model delivers an assessment and concrete suggestions within seconds.

Another reason for the whitepaper was that this technology is now much more accessible. It’s no longer just for experts but can be used by a broader group of users, significantly accelerating development and application.

However, this technology is not a one-size-fits-all solution. Our goal was to provide guidance. To define where it can be used effectively.

What are your goals at the ERGO Innovation Lab regarding the use of multimodal GenAI?

Our goal is to deploy multimodal GenAI in a targeted way to create real, long-term value. Our approach is diverse:

On the one hand, we work closely with our specialist departments to develop specific applications and business models, which we initially test as prototypes. This is how we ensure that our solutions are directly tailored to ERGO's needs.

We also rely on innovative methods such as GenAI-supported design sprints or blueprints for GenAI marketing to accelerate the introduction of new technologies and create sustainable efficiency.

And last but not least, we are exploring global topics such as LLM optimisation. Together with our marketing team, we are exploring this new channel and thus strengthening ERGO's position as a pioneer in innovative technologies.

Our experience shows that acceptance grows when we make the technology tangible for our employees and integrate it into their daily work.

Instead of overwhelming them with abstract information or superficial use cases, we initially focus on a few carefully selected core applications that immediately deliver real value. By doing so, we make the technology tangible, which fosters understanding and encourages adoption.

Deepfakes are a fascinating but also dangerous development. Could there be an insurance policy against identity fraud in the future?

Deepfakes present new challenges for both businesses and individuals. The risk of identity manipulation or misuse is growing, making preventive measures increasingly important.

An insurance policy against identity fraud could be a meaningful response to these risks. However, it would need to go beyond mere financial protection and include preventive services - such as AI-powered tools to detect deepfake content early and assistance in restoring one’s reputation.

A key question will be how insurers can calculate and cover these risks. This presents an exciting opportunity for the industry - not only to provide protection but also to act as a partner in prevention and awareness regarding these threats.

What developments in GenAI do you expect over the next five years that could have the biggest impact on the insurance industry?

I’d refer to our current “Trend Report“, where we highlight and explain many trends in detail. Here’s a small excerpt:

• From reactive to proactive: GenAI can help identify risks early and address them preventively, shifting from pure damage regulation to active risk prevention.
• Democratization of expertise: Complex tasks become more accessible and actionable, allowing both customers and employees to make faster, more informed decisions.
• Hyper-personalized interactions: Consultations and offers will be tailored to individuals and delivered in real-time, exceeding - not just meeting - customer expectations.

Where do you see the greatest potential for GenAI - in optimizing existing processes or in creating entirely new business models?

GenAI has tremendous potential in both areas - optimizing existing processes and developing entirely new business models. The key is to use it in a focused and strategic way.

Many processes can already be efficiently automated with simple, rule-based methods. There’s not always a need for complex GenAI solutions. GenAI’s real potential emerges where these simple solutions hit their limits - such as when dealing with unstructured data or highly dynamic contexts.

For me, the best solution is often the simplest one. However, I see the truly transformative potential of GenAI in the development of new business models. Whether it’s novel, multimodal customer interactions or innovative data-driven products, GenAI is opening up possibilities that were previously unthinkable.

If you had to compare the development of GenAI to an event in technology history, what would it be?

The development of GenAI is probably comparable to the rise of the internet in the 1990s. Both have fundamentally changed the way we live and work.

While the internet made knowledge globally accessible, GenAI takes it a step further: It transforms existing knowledge into concrete capabilities. It doesn’t just provide information but applies it - whether by writing texts, generating images, or preparing decisions.

GenAI makes knowledge actionable, bridging the gap between information and execution.

How does GenAI, by making expertise more accessible, change the role of humans in a technology-driven work environment?

GenAI is fundamentally reshaping the role of humans by elevating human-machine collaboration to a new level. People can focus more on their unique skills - such as empathy, strategic thinking, and decision-making - while GenAI handles routine tasks and complex analyses.

What’s particularly exciting is that GenAI doesn’t just increase efficiency - it also democratizes access to knowledge and capabilities. Tasks that were once reserved for specific experts can now be handled, at least partially, by specialists in adjacent fields.

This development blurs the boundaries of traditional expert roles and opens up new opportunities for more flexible collaboration between humans and machines. In a technology-driven work environment, humans are not becoming less relevant - on the contrary, GenAI empowers them to take on a central, yet more adaptable, role in a new form of collaboration.

Thank you, Georgina, for taking the time!

Are you a friend of life long learning and did we get you interested in downloading the white paper, then follow this link.

Interview: Markus Sekulla