ARTIFICIAL INTELLIGENCE (AI) WRITING AN INSURANCE POLICY

1 . A computer-implemented method for presenting an insurance contract created by an artificial intelligence (AI) chatbot to a potential insurance customer, the method comprising, via one or more processors:

receiving, with an AI chatbot of the one or more processors, an input statement;

determining, with the AI chatbot, from the received input statement, a type of insurance policy, wherein the type of insurance policy comprises a homeowners insurance policy, a renters insurance policy, an auto insurance policy, a life insurance policy, a disability insurance policy, and/or an umbrella insurance policy;

building, with the AI chatbot, an insurance contract based upon the type of insurance policy; and

presenting, via the AI chatbot, the insurance contract to the potential insurance customer.

2 . The computer-implemented method of claim 1 , further comprising training, via the one or more processors, the AI chatbot based upon historical data comprising: (i) independent variables comprising historical input statements, and/or (ii) dependent variables comprising historical insurance contracts.

3 . The computer-implemented method of claim 2 , wherein the training further comprises routing, via the one or more processors, the historical data into the machine learning algorithm from a ground truth insurance database.

4 . The computer-implemented method of claim 2 , wherein the training further comprises a supervised, reward-based learning process comprising:

for at least one historical input statement: (i) producing a plurality of suggested outputs comprising suggested insurance contracts, and/or (ii) sending the plurality of suggested outputs to an administrator computing device;

receiving, from the administrator computing device, rankings of suggested outputs of the plurality of outputs; and

feeding the rankings of the suggested outputs into the AI chatbot to thereby train the AI chatbot.

5 . The computer-implemented method of claim 1 , further comprising:

prior to presenting the insurance contract to the potential insurance customer, sending the insurance contract to an insurance underwriter computing device or an insurance agent computing device for approval, denial, or modification of the insurance contract.

6 . The computer-implemented method of claim 1 , further comprising:

receiving, with the AI chatbot, an indication of a location derived from a global positioning system (GPS) signal, and/or a cell phone signal; and

wherein the building the insurance contract further comprises building the insurance contract based upon the indication of the location.

7 . The computer-implemented method of claim 6 , wherein:

the building the insurance contract based upon the indication of the location comprises building the insurance contract based upon a jurisdiction of the indication of the location;

the jurisdiction comprises a state; and

the insurance contract is built based upon at least one law of the state by retrieving state law information from a database of a government entity and/or a ground truth insurance database.

8 . The computer-implemented method of claim 1 , further comprising:

receiving, with the AI chatbot, an indication of a location derived from a global positioning system (GPS) signal, and/or a cell phone signal;

prompting the potential insurance customer to confirm that the insurance contract is for an insurance policy corresponding to a jurisdiction of the location; and

wherein the building the insurance contract further comprises building the insurance contract based upon at least one law of the jurisdiction.

9 . The computer-implemented method of claim 1 , further comprising:

determining, with the AI chatbot, a criteria from the input statement; and

wherein the building the insurance contract further comprises building the insurance contract further based upon the criteria.

10 . The computer-implemented method of claim 9 , wherein:

the type of insurance policy is the homeowners insurance policy, and the criteria comprises a level of homeowners insurance coverage, a deductible amount, a premium amount, a value of a potentially insured home, a building material of the potentially insured home, a geographic area of the potentially insured home, a crime rate of the geographic area, a flood rate of the geographic area, and/or a natural disaster rate of the geographic area;

the type of insurance policy is the renters insurance policy, and the criteria comprises a level of renters insurance coverage, a deductible amount, a premium amount, a value of items in a potentially insured dwelling, a geographic area of the potentially insured dwelling, a crime rate of the geographic area, a flood rate of the geographic area, and/or a natural disaster rate of the geographic area;

the type of insurance policy is the auto insurance policy, and the criteria comprises a year of a potentially insured vehicle, a make of the potentially insured vehicle, a model of the potentially insured vehicle, a safety feature of the potentially insured vehicle, and/or a premium amount;

the type of insurance policy is the life insurance policy, and the criteria comprises an amount of life insurance coverage, a term of years of the life insurance policy, a premium amount, an age of a potentially life insured person, a health condition of the potentially life insured person, and/or a gender of the potentially life insured person;

the type of insurance policy is the a disability insurance policy, and the criteria comprises a disability insurance level, a premium amount, an age of a potentially disability insured person, a health condition of the potentially disability insured person, and/or a gender of the potentially disability insured person; or

the type of insurance policy is the umbrella insurance policy, and the criteria includes a level of umbrella coverage, a premium amount, and/or a deductible amount.

11 . The computer-implemented method of claim 1 , wherein the building the insurance contract further comprises:

retrieving insurance information from: (i) an insurance contracts database, (ii) a ground truth insurance database, (iii) an insurance information aggregator database, (iv) an insurance claims database, (v) a government records database, (vi) a police reports database, and/or (vii) a blockchain; and

building the insurance contract further based upon the retrieved insurance information.

12 . The computer-implemented method of claim 1 , wherein the AI chatbot includes: a generative AI chatbot, a deep learning algorithm, a generative pre-trained transformer (GPT), long-short-term-memory (LSTM), and/or a transformer neural network.

13 . The computer-implemented method of claim 1 , further comprising, via the one or more processors:

with the AI chatbot, applying a natural language processing (NLP) algorithm to text of the input statement to generate a plurality of tokens, each token comprising a word or phrase;

building, with the AI chatbot, a query vector, a key vector, and/or a value vector for each token of the plurality of tokens;

determining, with the AI chatbot, a similarity metric between a built query vector of a token of the plurality of tokens and each built key vector by taking respective dot products of the built query vector and each built key vector;

generating, with the AI chatbot, normalized weights by routing the respective dot products into a softmax function; and

generating, with the AI chatbot, a final vector by multiplying the normalized weights by the value vector of the token of the plurality of token, wherein the final vector represents an importance of the token of the plurality of tokens.

14 . The computer-implemented method of claim 13 , wherein:

the determining the type of insurance policy comprises determining the type of insurance policy based upon the final vector; and/or

the insurance contract is built based upon the final vector.

15 . The computer-implemented method of claim 1 , wherein:

the input statement comprises text;

the method further comprises, with the AI chatbot, applying a natural language processing (NLP) algorithm to the text to generate a word or phrase; and

(i) the determining the type of insurance policy comprises determining the type of insurance policy based upon the word or phrase; and/or

(ii) the building the insurance contract comprises building the insurance contract based upon the word or phrase.

16 . The computer-implemented method of claim 1 , wherein:

the input statement comprises audio data;

the method further comprises, with the AI chatbot, (i) applying an audio recognition program to the audio data to generate text, and (ii) applying a natural language processing (NLP) algorithm to the text to generate a word or phrase; and

(i) the determining the type of insurance policy comprises determining the type of insurance policy based upon the word or phrase; and/or

(ii) the building the insurance contract comprises building the insurance contract based upon the word or phrase.

17 . A computer system for presenting an insurance contract created by an artificial intelligence (AI) chatbot to a potential insurance customer, the computer system comprising one or more processors configured to:

receive, with an AI chatbot of the one or more processors, an input statement;

determine, with the AI chatbot, from the received input statement, a type of insurance policy, wherein the type of insurance policy comprises a homeowners insurance policy, a renters insurance policy, an auto insurance policy, a life insurance policy, a disability insurance policy, and/or an umbrella insurance policy;

build, with the AI chatbot, an insurance contract based upon the type of insurance policy; and

present, via the AI chatbot, the insurance contract to the potential insurance customer.

18 . The computer system of claim 17 , wherein the computer system further comprises a display device, and wherein the one or more processors are further configured to perform the present of the insurance contract by displaying, on the display device, the answer.

19 . A computer device for presenting an insurance contract created by an artificial intelligence (AI) chatbot to a potential insurance customer, the computer device comprising:

one or more processors; and

one or more memories;

the one or more memories having stored thereon computer-executable instructions that, when executed by the one or more processors, cause the computer device to:

receive, with an AI chatbot of the one or more processors, an input statement;

determine, with the AI chatbot, from the received input statement, a type of insurance policy, wherein the type of insurance policy comprises a homeowners insurance policy, a renters insurance policy, an auto insurance policy, a life insurance policy, a disability insurance policy, and/or an umbrella insurance policy;

build, with the AI chatbot, an insurance contract based upon the type of insurance policy; and

present, via the AI chatbot, the insurance contract to the potential insurance customer.

20 . The computer device of claim 19 , wherein the computer device further comprises a display device, and wherein the one or more memories having stored thereon computer executable instructions that, when executed by the one or more processors, further cause the computer device to perform the present of the insurance contract by displaying, on the display device, the insurance contract.

21 . A computer-implemented method for presenting an insurance contract created by an artificial intelligence (AI) or machine learning (ML) chatbot to a potential insurance customer, the method comprising, via one or more processors:

receiving, with an AI or ML chatbot of the one or more processors, an input statement;

determining, with the AI or ML chatbot, from the received input statement, a type of insurance policy, wherein the type of insurance policy comprises a homeowners insurance policy, a renters insurance policy, an auto insurance policy, a life insurance policy, a disability insurance policy, and/or an umbrella insurance policy;

building, with the AI or ML chatbot, an insurance contract based upon the type of insurance policy; and

presenting, via the AI or ML chatbot, the insurance contract to the potential insurance customer (such as via voice or text-based interaction, or via a display screen).