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Regulators are pondering whether to further define the use of AI in the insurance world. (AI-generated photo)

Regulators are in two camps on whether to move forward with a model law governing the use of artificial intelligence by insurance companies.
Illustration of an AI robot planting a flag. Consumer-insights-reveal-how-insurers-can-plant-a-flag-with-agentic-AI.
Insurers have an opportunity to make strides in AI adoption thanks to new research that shows when, how, and at what age consumers are most comfortable using the technology. (AI-generated image)

When, how, and at what age are consumers most comfortable using the AI-based tech? A new study helps insurers answer those questions.

Elysian, the AI-native third-party administrator for commercial insurance, today announced the closing of a $6 million seed round led by Portage, with participation from American Family Ventures and TenOneTen Ventures. Built to address the complexity of commercial claims, Elysian was founded by Grace Hanson, former lawyer and seasoned executive who…

–Farmers New World Life Insurance Company, recently announced a cybersecurity incident, which impacted the personal information of tens of thousands of individuals. Lynch Carpenter is a national class action law firm with offices in Pennsylvania, California, and Illinois. CONTACT Jerry Wells COMPANY Lynch Carpenter LLP PHONE 322-9243 EMAIL…

–Green Minting Technologies, Corp., announced today the strategic investment commitment of up to $150 Million USD with GEM Digital Limited through a token subscription agreement to develop a state-of-the-art, 600- Megawatt, off-grid, renewable energy, Bitcoin mining and AI datacenter project. As part of the $150 Million USD investment commitment, Mint will…

First investment from $50 billion strategic partnership to deliver integrated digital and power infrastructure at scale. SUMMIT, N.J.& NEW YORK—- Energy Capital Partners, one of the largest private owners of power generation and renewables in the U.S., and KKR, a leading global investment firm, today jointly announced the development of a new 190 MW hyperscale…

Regulators in that state, as well as California, Minnesota, Nebraska, New York and Texas, brought the administrative action, with each state to receive $700,000 under terms of the order.–“ Wise takes its responsibility to provide a safe and secure service to our customers very seriously,” a company spokesperson said Wednesday in an email.“ We continue to invest…