News & Analysis as of

Big Data NAIC

Carlton Fields

NAIC Groups Carve Up the Mountain at the Winter Meeting

Carlton Fields on

After strapping on their skis and riding up the lifts, the NAIC groups reported to their events. The results of the events of note for life insurers are as follows...more

Bricker Graydon LLP

Artificial Intelligence - There's Nothing Fake About It

Bricker Graydon LLP on

Artificial Intelligence (AI) has become ubiquitous in today’s corporate lexicon. And while much has been said, and written, about AI, the question still remains: what, exactly, is AI? Or, more aptly for this discussion, what...more

Locke Lord LLP

Insurance Regulators ‎Continue to ‎Grapple With the Rapid Development ‎and ‎Use of Artificial ‎Intelligence

Locke Lord LLP on

On August 13, 2023, insurance regulators and the insurance industry met in Seattle, Washington at the NAIC Summer Meeting and continued to address the challenges of monitoring and regulating the insurance industry’s use of...more

Carlton Fields

Opening Day: Regulators Showcase Big Data Initiatives at NAIC Spring Meeting

Carlton Fields on

Few things thrill baseball fans more than opening day. They come with a mix of excitement and trepidation. For many of them, it’s the first day they get to see their favorite team showcase its talents, and their first glimpse...more

Carlton Fields

Insurors’ Vendor Relationships May Get Wintery Gusts: A Chill for Consumer Data, Artificial Intelligence (AI), and Machine...

Carlton Fields on

As 2022 ended, various groups of the National Association of Insurance Commissioners (NAIC), as well as the Colorado Department of Insurance (CO DOI), continued to gain a better understanding of insurers’ use of consumer...more

Carlton Fields

A Flurry of Algorithmic Activity at the NAIC 2022 Fall National Meeting

Carlton Fields on

At the National Association of Insurance Commissioners (NAIC) 2022 Fall National Meeting (Fall Meeting), the various NAIC groups hit the industry with an array of snowballs of various actual and proposed surveys, guidance,...more

McGlinchey Stafford

Insurance Industry: Reflections on 2022, Predictions for 2023

McGlinchey Stafford on

For many in the insurance industry, 2022 was a year of growth, a year dedicated to gaining traction after the residual effects of 2020. As we enter 2023, we reflect beyond the macro dynamics of other markets, in hopes of...more

Carlton Fields

Flowers Sprout in the Consumer Data Regulation Garden

Carlton Fields on

With spring’s arrival, a bouquet of differing NAIC groups and states is popping up to consider the use of big data and algorithms by insurers, including algorithms based on machine learning. Many are focusing on life...more

Faegre Drinker Biddle & Reath LLP

The Faegre Drinker Five: An NAIC Watchlist

Faegre Drinker’s insurance team will once again be well-represented at the National Association of Insurance Commissioners’ Spring National Meeting from April 4-8 in Kansas City. As pandemic restrictions ease, we expect broad...more

Mitchell, Williams, Selig, Gates & Woodyard,...

National Association of Insurance Commissioners (NAIC) Fall 2021 Meeting Summary

What You Need to Know: Members at the Joint Meeting of the Executive (EX) Committee and Plenary voted to move forward forming the Innovation, Cybersecurity and Technology (H) Committee. Additionally, charges for the new...more

Eversheds Sutherland (US) LLP

NAIC report - 2021 Fall National Meeting

The National Association of Insurance Commissioners (NAIC) held its 2021 Fall National Meeting from December 11 to 16 in San Diego, California. The meeting was held in a hybrid in-person and remote format due to the ongoing...more

Eversheds Sutherland (US) LLP

EU-US Insurance Dialogue Project takes up new technologies and cyber threats that have no borders; Regulatory collaboration in a...

The EU-US Insurance Dialogue Project (“Project”) began in early 2012 as an initiative by the European Commission, the European Insurance and Occupational Pensions Authority (EIOPA), the Federal Insurance Office (FIO) of the...more

Carlton Fields

Topsy-Turvy World of Accelerated Underwriting and Artificial Intelligence

Carlton Fields on

As accelerated underwriting (AU) and artificial intelligence (AI) begin to turn life underwriting upside down, several NAIC working groups are seeking to bring order to the disruption: the Big Data (EX) Working Group (“Big...more

Carlton Fields

NAIC Tills the Accelerated Underwriting Garden

Carlton Fields on

The Accelerated Underwriting (A) Working Group (AU WG) sprang into action during the first part of the year learning about the landscape of insurers' use of algorithms in underwriting and potential issues of such use, holding...more

Carlton Fields

Innovation and Technology at the NAIC 2019 Fall Meeting

Carlton Fields on

Several NAIC groups continued addressing issues related to innovation in the life insurance industry as follows...more

Carlton Fields

Innovation Whack-a-Mole

Carlton Fields on

Like a game of whack-a-mole, new or existing NAIC groups are being tasked to consider the various regulatory issues that are popping up from insurance innovation....more

Cooley LLP

Blog: Big Data and Insurance – The Regulatory Approval Process for Insurtech Data Models

Cooley LLP on

Data is often the key ingredient to an insurtech’s success. From the use of drone data to automatically pay insurance claims after a hurricane, to AI that can predict the likelihood of insurance fraud – big data has the...more

Carlton Fields

Regulatory Response to Insurance Innovation

Carlton Fields on

As the insurance industry seeks to implement new technology, several NAIC groups and states are addressing the regulatory landscape to evolve with the changes. ...more

Mitchell, Williams, Selig, Gates & Woodyard,...

BigData: Great Opportunities in the Face of Impending Regulations

To kick off the New Year, the New York Department of Financial Services (“DFS”) published Insurance Circular Letter No. 1 (2019) warning life insurers that use of external consumer data and information sources, commonly...more

Carlton Fields

Life Insurers Sinking in Quicksand as Regulators Scrutinize Non-Traditional Consumer Data Sources

Carlton Fields on

As previously reported in our October 9, 2018, client alert, the sands began shifting in late 2018 when the NAIC Big Data Working Group (Big Data WG) began questioning life insurer’s use of big data after a LIMRA survey found...more

Carlton Fields

Various NAIC Groups Discuss a Cornucopia of Life and Annuity Topics

Carlton Fields on

At the NAIC Fall 2018 National Meeting, various groups within the NAIC discussed a cornucopia of topics that impact the life and annuity industry. ...more

Hogan Lovells

US: NAIC Developing Best Practices for Regulatory Review of Predictive Models and Analytics in Rate Filings

Hogan Lovells on

As computing power grows exponentially, it has opened the actuarial modeling world to new and sophisticated forms of data collection and analysis, resulting in insurance companies seeking increased “predictiveness” of...more

Carlton Fields

NAIC Big Data WG Shifts Its Gaze To The Use Of Big Data In Life Insurance Underwriting

Carlton Fields on

At recent meetings, the NAIC's Big Data (EX) Working Group (Big Data WG) has shifted its gaze to the use of big data in life insurance underwriting. Before these meetings, the Big Data WG had focused on the impact of big data...more

Carlton Fields

NAIC Summer National Meeting Spotlights Innovation and Insurtech

Carlton Fields on

In response to the accelerating pace of change, the NAIC’s Summer National Meeting in Boston focused on innovation and insurtech....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

42 Results
 / 
View per page
Page: of 2

"My best business intelligence, in one easy email…"

Your first step to building a free, personalized, morning email brief covering pertinent authors and topics on JD Supra:
*By using the service, you signify your acceptance of JD Supra's Privacy Policy.
- hide
- hide