Insurance Australia Group, QBE Insurance, Suncorp Shares Down After AI Insurance Comparison App Release

MT Newswires Live

Feb 10

Insurance Australia Group (ASX:IAG) shares declined by 6%, QBE Insurance Group (ASX:QBE) shares fell nearly 4%, and Suncorp Group (ASX:SUN) shares decreased by 3% in afternoon trading on Tuesday amid concerns over the Insurify artificial intelligence tool.

Online insurance agent and comparison platform Insurify released the ChatGPT app on Monday, allowing users to browse, research, and compare car insurance through the platform's app library.

The app is designed to streamline insurance buying, according to a statement from Insurify.

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