Words reading "Artificial intelligence AI", miniature of robot and toy hand are pictured in this illustration taken December 14, 2023. REUTERS/Dado Ruvic/Illustration/File Photo
LONDON (Reuters) - Global financing for insurance technology (insurtech) firms rose 40% to $1.27 billion in the second quarter from the previous three months, helped by money going into AI-focused businesses, reinsurance broker Gallagher Re said on Thursday.
The use of artificial intelligence in insurance presents challenges, however, because of the risks of so-called "deepfakes" in fraudulent claims and of the exclusion of potential customers by AI models, Gallagher Re said in a report.
