Insurance broker stocks, including MRSH, declined on Monday following reports that OpenAI approved the first AI insurance app on ChatGPT. The app was built by Spanish digital insurer Tuio. Investors expressed concerns that artificial intelligence could disrupt traditional insurance distribution channels. The selloff affected major insurance broker stocks across the sector. The approval of the AI insurance application on the ChatGPT platform prompted the market reaction, as investors reassessed the potential impact of artificial intelligence technology on how insurance products are distributed and sold through conventional broker channels.
Read full analysisInsurance broker stocks, including MRSH, declined on Monday following reports that OpenAI approved the first AI insurance app on ChatGPT. The app was built by Spanish digital insurer Tuio. Investors expressed concerns that artificial intelligence could disrupt traditional insurance distribution channels. The selloff affected major insurance broker stocks across the sector. The approval of the AI insurance application on the ChatGPT platform prompted the market reaction, as investors reassessed the potential impact of artificial intelligence technology on how insurance products are distributed and sold through conventional broker channels.
Marsh & McLennan Companies, Inc. (MRSH) is a publicly traded company in the Broad Market sector.