LLMs are rapidly transforming how businesses across industries interact with data and leverage AI. For insurance companies, LLMs present a powerful opportunity to automate and enhance key operations like claims processing, underwriting, customer service, and risk analysis. As the market for enterprise-grade LLM solutions continues to evolve, insurance companies face myriad choices from established tech giants, specialized AI startups, and open-source offerings.

This report provides an overview of the prominent LLM providers and examines the offerings and differentiated capabilities of these solutions. Key factors like licensing models, integration readiness, responsible AI practices, and pricing structures are analyzed to aid insurers in compiling a shortlist of potential vendors. The vendor profiles are based on publicly available information and responses to survey questions when possible.

Clients of Datos Insights’ Life, Annuities, & Benefits and Property & Casualty services can download this report.

This report mentions AI21, Anthropic, AWS, BLOOM, Cohere, Google, H2O.ai, Hugging Face, IBM, Meta, Microsoft, Mistral AI, and OpenAI.