NAMIC says regulations efforts over use of AI in insurance are misguided at best.
Efforts to regulate the use of big data and artificial intelligence by insurance companies are misguided and threaten to harm policyholders, a trade group claims.
While advances in artificial intelligence have been slow to reach commercial P&C insurance, new trends in data augmentation could help pick up the pace, according to experts on a recent Insurtech Insights panel.
The financial services profession and industry has an opportunity “to go on offense” now that a new administration and a new Congress has taken over the reins in Washington, said Finseca CEO Marc Cadin.
Louisiana Gov. Jeff Landry this week outlined proposals to lower state auto insurance premiums, which are among the highest in the nation.
Tariffs have radically altered Morningstar’s second-quarter U.S. economic outlook as the organization’s chief U.S. economist said President Donald Trump’s proposed tariffs have pushed projected gross domestic product down, pushed projected inflation rates up and increased the risk of a recession to 40%.
Plaintiffs claim that Cigna is using AI to deny claims.
A California judge is giving plaintiffs until late April to file a fourth amended complaint alleging that Cigna used a computer algorithm to improperly deny claims.
Five years after COVID-19 disrupted the world, the effects are still being felt. One of the biggest effects to impact the world of health insurance and benefits is greater awareness around mental health.