The Massachusetts-based Mutual Life Insurance Company is the First of its Size to Embrace OpenAI’s ChatGPT Enterprise

SBLI (The Savings Bank Mutual Life Insurance Company of Massachusetts) announces its strategic move to utilize ChatGPT Enterprise, developed by OpenAI, an AI research and deployment company. OpenAI’s mission is to create safe and powerful AI that benefits all of humanity. This groundbreaking deployment aims to bolster operational efficiency, foster innovation, and amplify adaptability within SBLI but also positions SBLI as the first life insurance company of its size to integrate the ChatGPT Enterprise platform.

“In a competitive industry like life insurance, embracing cutting-edge technology isn’t a luxury; it’s a necessity,” said SBLI President and CEO Jim Morgan. “Our adoption of ChatGPT Enterprise, by OpenAI technology, signifies SBLI’s commitment to innovative solutions and operational excellence. It positions us at the forefront among life insurers of our size at this transformative moment in artificial intelligence.”

Key Objectives of the Initiative:

• Operational Efficiency: The ChatGPT Enterprise platform will help streamline various internal processes, allowing SBLI’s workforce to focus on value-added activities.
• Innovative Underwriting: The technology will influence SBLI’s underwriting program, enhancing efficiency and decision-making accuracy.
• Adaptive Marketing Strategies: SBLI will leverage advanced analytics from the platform to influence its marketing strategies, opening the possibility of higher ROI.

What This Means for SBLI:

• Streamlined Operations: Enhanced efficiencies will reduce operational costs and time.
• Greater Adaptability: Quick data analysis will empower SBLI to adapt more quickly to market shifts and evolving consumer demands.
• Enhanced Decision-Making: Access to real-time analytics will facilitate more informed decision-making across the company.

SBLI Chief Information Officer Nikolai Lukin added, “By utilizing ChatGPT Enterprise, by OpenAI, we’re not just adopting a new platform; we’re embracing a transformative approach to information technology within the life insurance industry. This opens up unprecedented possibilities for leveraging AI to meet both current and future challenges.”

About SBLI

For more than 115 years, SBLI (The Savings Bank Mutual Life Insurance Company of Massachusetts) has specialized in providing simple and affordable life insurance solutions. Whether it be term life, whole life or a plan that combines the two, we offer dependable protection at a fair price. For more information, visit SBLI.com.

SBLI is a registered trademark of The Savings Bank Mutual Life Insurance Company of Massachusetts, Woburn, MA. NAIC #70435. Licensed in 49 states and DC (excludes NY). Products and features may not be available in all states. SBLI is in no way affiliated with SBLI USA Life Insurance Company, Inc. © 2023 All rights reserved.

23-4347

View source version on businesswire.com: https://www.businesswire.com/news/home/20231017932503/en/