OpenAI has approved the first artificial intelligence application from an insurance provider on ChatGPT, enabling users to receive personalised home insurance quotes within the conversational interface.
The application, developed by Spanish digital insurer Tuio and powered by WaniWani's AI distribution infrastructure, marks the first instance of an insurance provider distributing products and offering quotes directly within an AI platform used by hundreds of millions of users for research purposes.
Founded in 2021 by Juan García, Asís Pardo and José María de Lucas, Tuio operates as a managing general agent offering home, life and pet insurance through a fully digital model. The Madrid-based insurtech has grown to over 45,000 customers and manages insured assets of nearly €5 billion, data from the company shows.
The insurer's digital operations show 97% of clients complete the contracting process without human assistance, whilst 92% report claims in under two minutes through a process involving photos or videos of damage, Tuio states.
Tuio raised €15 million in its latest funding round led by MassMutual Ventures and BlackRock, bringing total funding to approximately €18.5 million since inception. The company acquired French insurtech Luko's Spanish book of business last year to accelerate growth.
Technical integration
The application processes user intent, gathers required information through conversational exchanges, and returns quotes from a regulated carrier in real time without requiring users to exit the AI interface. Policy purchasing functionality is expected to be added to the application.
Rather than using the consumer ChatGPT website directly, insurers typically integrate OpenAI's APIs into customer service platforms, claims systems or agent workflows, industry specialists note.
However, questions remain about how information is stored, shared or reused, particularly regarding sensitive customer data.
Data from WaniWani indicates that AI currently generates approximately 20% of new business for digital insurers. ChatGPT accounts for around 15% of website traffic in declarative surveys among website visitors, compared to 4% in tracked traffic, with AI-sourced traffic converting at rates exceeding historical search-originated leads.
Insurify received OpenAI approval for its application last week. WaniWani stated that twelve additional insurance AI applications, including several from its customers and partners across North America and Europe, are in the approval pipeline and expected to launch in coming weeks.
García said being the first provider live on ChatGPT allows Tuio to convert new customers right at the point of discovery.
Raphael Vullierme, co-founder of WaniWani, described the development as the start of a transformation in insurance distribution, adding that every insurer will be affected regardless of whether they have built an AI application.
