AI is fundamentally changing the legal landscape of industries. Troy discussed the impact on the insurance industry today in Austin.
How can we remain AI compliant when regulation is lagging behind what’s possible? Cheri McCourt (Northwestern Mutual), Kathy Arp, JD, RPLU (Skyward Specialty Insurance), RUTH DEABOLD, (Branch) & Troy Doucet (AI Law) share their top tips for achieving compliant AI-driven innovation at #CCUSA
How can we remain AI compliant when regulation is lagging behind what’s possible? Cheri McCourt (Northwestern Mutual), Kathy Arp, JD, RPLU (Skyward Specialty Insurance), RUTH DEABOLD, (Branch) & Troy Doucet (AI Law) share their top tips for achieving compliant AI-driven innovation at #CCUSA
How does generative AI impact risk management for Legal Firms? Listen to WTW's Genevieve Mathews open up some insights
Genevieve Mathews discusses how generative AI is generating insurance coverage questions for law firms. #WTWAustralia #WTWNewZealand #AI #LawFirms #GenerativeAI #ASmarterWayToRisk
Genevieve Mathews discusses how generative AI is generating insurance coverage questions for law firms. #WTWAustralia #WTWNewZealand #AI #LawFirms #GenerativeAI #ASmarterWayToRisk
Business Development | AI Risk Management & Governance | Responsible and Ethical AI | Generative AI
New Hampshire Insurance Dept. Adopts Groundbreaking AI Bulletin February 20, 2024, the New Hampshire Insurance Department (NHID) issued a comprehensive bulletin (Docket #INS 24-011-AB) outlining guidelines for insurers regarding the use of AI systems. It emphasizes the importance of fairness, accountability, transparency, and compliance with state laws in deploying AI systems within the insurance industry. Key points include: 1. Purpose and Context: Promoting innovation while ensuring consumer protection and regulatory compliance. 2. Expectations for Insurers: Written programs for responsible AI use, risk management controls, and compliance. 3. Compliance with Laws: AI decisions must comply with insurance laws, avoiding unfair or discriminatory practices. 4. Third-Party Engagement: Due diligence when acquiring or relying on third-party AI systems or data. The Lumenova AI Responsible AI Platform ensures the deployment of compliant, unbiased, and trustworthy AI. https://lnkd.in/g6kbuSQ3 #Insurance #lawyer #legal #lawpractice #AIGovernance #ResponsibleAI
Returning from the International Bar Association Insurance Conference in London, it is time to thank the @IBA Insurance Comittee for putting a strong focus on AI in insurance. It will be very interesting to see to what extent AI will redefine the landscape of claims handling in insurance law! #InsuranceLaw #AI #ClaimsHandling #IBA
Heartfelt thanks to Commissioner Doug Ommen for his participation and very thoughtful comments before a full house at this morning's AITC breakfast briefing about the NAIC's efforts to develop a regulatory framework and standards for insurance carrier use of AI. If your organization has a stake in the outcome of how regulation of AI will impact your business and you want your voice heard, contact us. #AITC #NAIC #insurtech #AI #regulation
AITC holds annual Spring breakfast with guest speaker Iowa Insurance Commissioner Doug Ommen at the National Association of Insurance Commissioner meeting in Phoenix. Commissioner Ommen discussed issues regarding third party data and models and Artificial Intelligence. These issues have become a significant concern among insurance regulators. AITC will continue to be a resource for regulators and legislators on all InsurTech matters. AITC Web site: www.americaninsurtech.com #insurtech #innovation #modernization #artificialintelligence #ai #regulation #compliance #insurance
Zala Insurtech News: Mason Owen has introduced a pioneering legal indemnity insurance platform, Instant Title Solutions (ITS), which leverages artificial intelligence to streamline the insurance process. The post Mason Owen Launches UK’s First AI Platform for Legal Indemnity Insurance appeared first on Insurtech Insights. Read on below >> #insurance #innovation #insurtech
The insurance industry is undergoing a transformative shift as insurtech companies navigate a more cooperative regulatory landscape.? In an interview with Law360, Saul Ewing LLP Counsel William Latza discussed his time at Lemonade and making early strides in "insurtech," his experiences with the changing regulatory landscape and the potential role of artificial intelligence in the industry. "Insurance is a big, stable, profitable industry, but it also has one of the lowest returns on capital of any industry in the world. It's a very capital-intensive industry," Latza said. "One way to change that is through technology, and the technology can help the insurance industry identify its markets, enable them to purchase the product, enable the pricing to be better." "AI is an enormously powerful tool, and the regulatory fear is that the tool eventually becomes a decision-maker. It hasn't yet, and shouldn't, and there are laws intended to prevent that." To read the full story, visit: https://lnkd.in/eQgCD9_G #Insurtech #AI #Insurance
Watch the video to find out why I am supporting ForHumanity in drafting an AI Audit Framework for Consumer Duty and SM&CR
Find out about the importance of sensible oversight of #AI in the #Insurance industry in our latest #IDLin10 special where our co-founder Matt speaks to a panel of experts who are building an audit certification for AI through an SMCR and #ConsumerDuty lens - Bright Blue Hare's Shan Millie - Zurich Insurance's Penny Jones - Procurato's John Gaynor - ForHumanity's Ryan Carrier, FHCA
Charlee.ai is excited to be attending the PCEA Spring 2024 Meeting from May 14-16. We look forward to meeting folks & providing information about how Charlee.ai's AI-based predictions can help your insurance company! Sri Ramaswamy our CEO will speaking on “AI in Claims and the Regulatory Landscape” #PCEA #Meeting #Insurance #CharleeAi #ai #claims #regulatory
