Latest Data Driven Headlines
All the headlines from our Data Driven Topic Page, ordered by recency.
AI Push Sees Italy’s Intesa Axing 9,000 Jobs in ‘Generational’ Shift
Oct 24 2024 // Intesa Sanpaolo SpA is replacing thousands of staff with younger hires to set the firm up for the use of artificial intelligence, demonstrating how much the technology is impacting workers across the financial...
SEC to Increase Scrutiny of AI Tools Used by Financial Brokers, Advisers
Oct 22 2024 // The US Securities and Exchange Commission’s examiners will step up scrutiny of financial firms’ use of artificial intelligence next year, the latest sign of regulators’ growing concerns about the emerging...
Murdoch Firms Dow Jones and New York Post Sue Perplexity AI
Oct 21 2024 // Media baron Rupert Murdoch’s Dow Jones and New York Post filed a lawsuit against Perplexity AI on Monday, claiming the AI startup engages in a “massive amount of illegal copying” of their copyrighted...
90% of Insurers Have GenAI Budgets; 10% Can Fully Comply With AI Regs
Oct 21 2024 // Data and technology leaders at insurance organizations are gung ho about using GenAI to increase customers satisfaction, reduce operating costs and improve risk management, but few are fully ready to comply with...
Insurance Execs See Gen AI Necessary To Compete; Customers Wary
Oct 18 2024 // Insurance industry investments in generative AI are expected to surge by over 300 percent from 2023 to 2025 as organizations move from pilots in one or two areas to implementations in multiple functions across business...
Revolutionizing Submission Automation for MGAs and Wholesalers with AI-Powered Technology: From Email Intake to Quoting in Minutes
Oct 17 2024 // This post is part of a series sponsored by Selectsys. In the fast-paced insurance industry, MGAs and wholesalers are constantly challenged with managing large volumes of submissions from agents. Typically, gatekeepers...
New York Updates Financial Services Cybersecurity Regulation to Address AI Risks
Oct 17 2024 // The New York Department of Financial Services (DFS) has issued new guidance to assist the more than 3,000 financial firms including insurers it regulates in addressing cybersecurity risks arising from artificial...
EU AI Act Checker Reveals Big Tech’s Compliance Pitfalls
Oct 17 2024 // Some of the most prominent artificial intelligence models are falling short of European regulations in key areas such as cybersecurity resilience and discriminatory output, according to data seen by Reuters. The EU had...
Court Finds Ambiguity But No Bad Faith by Insurer in Bible App Data Claim
Oct 17 2024 // The Pennsylvania Supreme Court has let stand a state appeals court ruling that tackled for the first time what is meant by “your computers” under electronic data coverage in a commercial property policy. The...
Using AI to Provide a More Human Claims Experience
Oct 7 2024 // The robots are coming — and in some cases, they’re here. Advancements in generative artificial intelligence are enhancing claims processes in many ways, from improving First Notices of Loss (FNOLs) to analyzing...
How Insurance Industry Can Use AI Safely and Ethically
Oct 7 2024 // Several types of artificial intelligence are already being adopted by various parts of the insurance industry and they have the potential to deliver extraordinary efficiency savings, opening the door for even more...
The Chief Artificial Intelligence Officer: Leading AI Innovation and Risk Management
Oct 4 2024 // Generative artificial intelligence (AI) has emerged as a new technology with the potential to completely reshape business practices and create new avenues for innovation. It will significantly impact virtually every...
Enhancing Underwriting Precision with AI and Cloud Technology: A Deep Dive into SelectsysTech’s RQB Platform
Oct 4 2024 // This post is part of a series sponsored by Selectsys. In today’s fast-paced insurance industry, precision in underwriting is not just a requirement—it’s a critical factor in maintaining competitiveness and...
California Governor Vetoes Bill to Create First-in-Nation AI Safety Measures
Oct 1 2024 // California Gov. Gavin Newsom vetoed a landmark bill aimed at establishing first-in-the-nation safety measures for large artificial intelligence models. The decision is a major blow to efforts attempting to rein in the...
AI Being Used to Scam Small Business Owners, Says Nationwide Survey
Sep 26 2024 // Just when employees have learned to ignore scammy texts and emails from the boss, along comes the next generation of impersonation using artificial intelligence. Cybercriminals increasingly use generative AI, including...
FTC Crackdown on Companies Using AI Includes ‘Robot Lawyer,’ Content Generator
Sep 26 2024 // As its authority is routinely questioned, the Federal Trade Commission has filed complaints against five companies it said use artificial intelligence (AI) to “supercharge deceptive or unfair...
India Insurer Star Health Sues Telegram After Hacker Uses App’s Chatbots to Leak Data
Sep 26 2024 // Top Indian insurer Star Health has sued Telegram and a self-styled hacker after Reuters reported that the hacker was using chatbots on the messaging app to leak personal data and medical reports of policyholders. The...
Insurance CEOs Talk Gen AI, Growth, Workforce Strategies
Sep 25 2024 // A much higher percentage of insurance chief executives say that generative AI is a top investment priority for their firms than peers in other industries, according to a survey report published by professional services...
Revolutionizing Insurance Operations: How SelectsysTech’s Integrated Solutions Enhance Underwriting, Quoting, and Data Management
Sep 23 2024 // This post is part of a series sponsored by Selectsys. In the fast-paced world of insurance, efficiency and accuracy are paramount. For MGAs, wholesalers, and carriers, managing the complexities of underwriting, quoting,...
7 in 10 Actuaries and Underwriters Worry About Being Replaced by AI
Sep 20 2024 // With the vast majority (91 percent) of insurance companies already investing in AI or planning to in the next five years, it’s not surprising that nearly 7 in 10 actuaries and underwriters are worried about being...
