LULA’s AI Becomes the First to Pass Insurance Licensing Exams
November 29, 2023
GAIL, AI built for insurance, becomes first to pass Insurance Licensing Exam.
GAIL learned insurance so well it began correcting the tutors hired to train it.
Demand for GAIL is strong, with millions in pre-orders and a waitlist filled until Summer 2024.
MIAMI AND SAN FRANCISCO —LULA, the Insurtech with $60M in funding from Founders Fund, Khosla Ventures, and SoftBank, announced today that its Generative AI, GAIL, became the first AI to pass an Insurance Licensing Exam: doing so in Florida, Texas, New York, and California.
To pass the Exams—the Insurance Industry’s Equivalent of the Bar Exam—GAIL underwent rigorous training utilizing LULA’s internal datasets, and state insurance codes with an emphasis on regulatory guidelines, legal frameworks, and workflows. At one point, GAIL's insurance knowledge became so significant that it began correcting the tutors hired to train it, and went on to pass each of the four exams with flying colors.
“Insurance has long been criticized for not adapting new technologies, and we always saw that as inaccurate,” said LULA CEO, Matthew Vega-Sanz. “We’re ending that narrative today, and couldn’t be happier to be the ones leading the charge by bringing Generative AI to the world of Insurance”.
Launching in 2024, GAIL will deliver voice and text powered AI tools, adept at selling insurance and serving customers with human-like quality. GAIL’s passing of the exam showcased its ability to navigate the nuanced world of Insurance, and has already garnered millions of dollars in pre-orders. GAIL has many in the industry so excited that franchisee groups for AllState, Farmers, and Travelers have already signed on for early access.
While many are celebrating Generative AI’s arrival into Insurance, some are nervous about what it means for their jobs. LULA, however, is adamant that its goal isn't to replace humans. Instead, GAIL will help increase overall productivity by taking on routine tasks like call scheduling, customer qualification and enable agencies to focus on customer relationships and providing high value service.
"This achievement emphasizes the potential of AI in understanding complex regulatory landscapes and making informed decisions. It's not about machines versus humans, but rather machines and humans working together for a brighter, more efficient future," commented Lee Hower, a Partner at NextView Ventures.
Those who would like to join the Waitlist can do so here, or message Tito@LULA.com.