‘Explainable AI’ in insurance: 5 best practices & 4 major challenges
As increasing use cases of AI in insurance add urgency to the need for explainability, experts are recommending best practices.
As increasing use cases of AI in insurance add urgency to the need for explainability, experts are recommending best practices.
Artificial intelligence is developing fast, maybe too fast for state insurance regulators. But some say they have to move faster.
Startup Ansel Health has carved a niche in the supplemental health insurance space in its effort to provide a better way.
American insurers are being urged not to drag their feet on ensuring their use of AI is “explainable” to regulators and consumers.
New insurtechs can help ensure success by learning essential lessons from the failures of past companies, say experts.
The CFP Board has published a guide to assist professionals in using generative artificial intelligence (AI) in their professional services.
–Global health company The Cigna Group today announced the successful completion of the sale of its Medicare Advantage, Cigna Supplemental Benefits, Medicare Part D, and CareAllies businesses to Health Care Service Corporation. The divestment of these assets streamlines The Cigna Group’s portfolio and enables it to drive further innovation to support…
LIMRA’s AI Governance Group launches tools and resources to help life insurance companies effectively adopt AI.
Most legal and insurance industry experts aren’t expecting federal AI guidelines anytime soon under the Trump administration.
In the age of AI, insurtechs must find ways to differentiate themselves and adapt, says Bestow CEO Melbourne O’Banion.
The business case of generative AI for the financial services profession is helping advisors speed up their processes to allow them to serve more clients with the same 24 hours in a day.
Lemonade shares increased 94% in the last three months, based on recent performance. Can profitability be close behind?
NEW CASTLE, DE, UNITED STATES, March 5, 2025/ EINPresswire.com/– Allied Market Research published a report, titled, " Generative AI in Insurance Market by Component, Technology, and Application: Global Opportunity Analysis and Industry Forecast, 2022-2032". According to the report, the global generative AI in insurance industry generated$ 761.4 million in 2022, and…
KPMG's 2024 Generative AI Consumer Trust Survey found that about half of consumers think there is not sufficient regulation of generative AI right now. The lack of oversight tracks with limited trust that institutions— particularly tech companies and the federal government— will ethically develop and implement AI, according to KPMG. Within the tech…
A lack of regulation of AI usage in insurance is one of the biggest challenges facing the insurance industry today, says Cover Genius’ CRO.
When it comes to using AI, experts say there are four major ethical challenges faced by insurance professionals.
These growing startups are making the most of the AI revolution to save time and spot fraud for financial institutions, investors and founders.
Many insurers still struggle to keep up with compliance.
In 2022, around the time of the FTX crisis, I wrote a column on the risks posed by cryptocurrencies. More than two years later, when Elon Musk just stonewalled the Consumer Financial Protection Bureau- which was investigating several cryptocurrency companies and digital payment apps-digital currencies will likely work their way much deeper into the…