News & Analysis as of

Insurance Industry Analytics

Bradley Arant Boult Cummings LLP

Struck by CrowdStrike Outage? Your Business Loss Could Be Covered

Over the last week, organizations around the globe have struggled to bring operations back online following a botched software update from cybersecurity company CrowdStrike. As the dust settles, affected organizations should...more

Robins Kaplan LLP

AI’s Impact on Property Insurance Coverage

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Artificial Intelligence (AI) is the simulation of human intelligence processes by machines, such as computer systems for assistance in quickly answering complicated questions, researching a specific topic, or creating an...more

Sheppard Mullin Richter & Hampton LLP

The Intersection of Artificial Intelligence and Utilization Review

California is among a handful of states that seeks to regulate the use of artificial intelligence (“AI”) in connection with utilization review in the managed care space. SB 1120, sponsored by the California Medical...more

Woodruff Sawyer

Property and Casualty Risks Faced by Data and Analytics Service Providers

Woodruff Sawyer on

With the explosive growth of data over the last decade, a new industry has emerged: data and analytics services. In an article published in December 2022, Acumen Research and Consulting estimated the global size of the...more

Locke Lord LLP

NAIC Gets Serious About Accelerated ‎Underwriting

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On Wednesday February 22, 2023, the National Association of Insurance Commissioners (“NAIC”) Accelerated Underwriting (A) Working Group (the “working group”) exposed for a 45-day comment period draft regulatory guidance while...more

A&O Shearman

Artificial Intelligence in insurance – innovating in a world of increased regulation

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The potential benefits of deploying artificial intelligence (AI) (and in particular, machine learning (ML) techniques) within the insurance industry have been the subject of much market discussion and increased focus over...more

Esquire Deposition Solutions, LLC

The Deposition Service Provider’s Role in Trimming Insurance Industry Expenses

Back in 2017, we wrote about the impact that modern deposition management services can have on the leading impediments to insurance company profitability: unallocated loss adjustment expenses (ULAE), allocated loss adjustment...more

Goodwin

Fintech 2020: A Global Survey on the State of Financial Technology

Goodwin on

Letter from Our Co-Chairs - As the digital transformation of financial markets accelerates at breakneck speeds, fintech presents significant opportunities and challenges for both investors and innovators around the world. ...more

Faegre Drinker Biddle & Reath LLP

“A Slice” of the 2019 ILTCI Conference

Drinker Biddle is pleased to present you with this recap—or “a slice” of the 2019 ILTCI Conference, Chicago, Illinois. Year after year, the ILTCI Conference is jam-packed with opportunities to reconnect with and learn from...more

Orrick - Finance 20/20

EIOPA Publishes Report on Thematic Review on Big Data Analytics

Orrick - Finance 20/20 on

On May 8, the European Insurance and Occupational Pensions Authority (EIOPA) published a report setting out the findings of its EU-wide thematic review on the use of Big Data Analytics (BDA) in motor and health insurance. ...more

Faegre Drinker Biddle & Reath LLP

Big Data Is a Big Deal: A Brief Guide to Data Analytics and the Insurance Industry

Admit it: you have a nagging feeling that you should learn more about the insurance industry’s use of big data and algorithms, but you don’t know where to begin. Relax. Here are six questions (and answers) to help you get...more

Carlton Fields

Catching Up To Insurers’ Use of Big Data

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Various groups within the NAIC are beginning to study the way in which insurers are using big data. On the property and casualty front, the Market Regulation (D) (Market Reg) Committee is reviewing the use of big data in...more

Carlton Fields

The Big Deal About Big Data: What Life Insurers Must Know

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Big data and predictive analytics, which forecast future outcomes based on past occurrences, allow companies to examine large stores of data and uncover patterns that can be used to gain a competitive advantage. Long-used in...more

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