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Artificial Intelligence › Insurance Industry › Data Collection

Eversheds Sutherland (US) LLP

NAIC proposes evaluation tool for AI systems used by insurers

Eversheds Sutherland (US) LLP on

On July 7th, the NAIC’s Big Data and AI Working Group (Working Group) exposed a draft of an AI Systems Evaluation Tool (Evaluation Tool). The stated purpose is to provide regulators with a tool that enables them to identify...more

Faegre Drinker Biddle & Reath LLP

Colorado Division of Insurance Takes Next Steps to Expand AI-Related Governance and Risk Management Obligations for Insurers

Faegre Drinker Biddle & Reath LLP on

The complex and evolving AI regulatory landscape for insurers is again on the move. The Colorado Division of Insurance (the Division) has commenced the formal rulemaking process to amend and expand the reach of current...more

Robins Kaplan LLP

AI’s Impact on Property Insurance Coverage

Robins Kaplan LLP on

Artificial Intelligence (AI) is the simulation of human intelligence processes by machines, such as computer systems for assistance in quickly answering complicated questions, researching a specific topic, or creating an...more

BCLP

The Future of Insurance - Colorado’s New ECDIS and AI Model Regulations

BCLP on

On September 21, 2023, the Colorado Division of Insurance adopted a Final Regulation implementing S.B. 21-169, the 2021 law governing Colorado-licensed insurers’ use of external consumer data and information sources (ECDIS),...more

Eversheds Sutherland (US) LLP

The march to regulatory change for artificial intelligence: the commonalities between the EU and US

Eversheds Sutherland (US) LLP on

This briefing links up some commonalities between the EU and US in terms of the AI march to regulatory change. Our global regulatory specialists have put their heads together for this update on EU, New York City (NYC) and...more

A&O Shearman

Artificial Intelligence in insurance – innovating in a world of increased regulation

A&O Shearman on

The potential benefits of deploying artificial intelligence (AI) (and in particular, machine learning (ML) techniques) within the insurance industry have been the subject of much market discussion and increased focus over...more

McDermott Will & Emery

Insurance Regulators Continue Big Data Scrutiny

McDermott Will & Emery on

We previously reported on regulators’ increased attention to the use of big data systems, including external consumer data and information sources, algorithms and predictive models. Recent announcements in Colorado, Louisiana...more

Pillsbury - Policyholder Pulse blog

Artificial Intelligence: A Boon for Insurance Underwriting?

Pillsbury - Policyholder Pulse blog on

The digitization of business is in high gear. Although some sectors have embraced this change, others, including the insurance industry, have been slower to implement advances. While we’ve previously addressed insurance...more

Akin Gump Strauss Hauer & Feld LLP

Future of Insurtech: Opportunities and Challenges

Akin Gump Strauss Hauer & Feld LLP on

The emerging insurance tech (“insurtech”) industry is growing at breakneck speed. While in 2011 insurtech startups received $140 million in funding from 28 total deals, investment increased more than tenfold in 2016, with...more

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