On August 6, 2019, the CIPR held a program titled, Demystifying the Use of Artificial Intelligence in Insurance, in conjunction with the NAIC Summer National Meeting in New York City. More than 325 insurance regulators, consumer representatives, academics and industry stakeholders attended the program to discuss the use of artificial intelligence in insurance. The program examined how the rise in accessible data, computational resources, and changing consumer expectations has recently led to a strong acceleration of AI development.
The event was timely given the NAIC Innovation and Technology Task Force adopted a motion to form an Artificial Intelligence (EX) Working Group. The AI Working Group will study the development of artificial intelligence, its use in the insurance sector and its impact on consumer protection and privacy, marketplace dynamics, and the state-based insurance regulatory framework.
Event materials:
- Presentation 1: How Artificial Intelligence (AI) Has Transformed the Insurance Industry
- Presentation 2: AI in Insurance