News & Analysis as of

Big Data Insurance Industry Life Insurance

Eversheds Sutherland (US) LLP

Colorado Division of Insurance adopts final rule on use of big data and predictive models

The Colorado Division of Insurance (CDI) adopted a new regulation on September 21, 2023 (Final Regulation) establishing requirements governing the use of external consumer data and information sources (ECDIS), as well as...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

Does Colorado’s Draft Big Data Governance Rule Foretell of a Long Winter or an Early Spring?

Carlton Fields on

Colorado Senate Bill (SB) 21-169, which became law in 2021, is intended to “hold insurers accountable for testing their big data systems — including external consumer data and information sources, algorithms, and predictive...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

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

Locke Lord LLP

New Guidance on Insurers’ Use of Big Data and Algorithms in New York

Locke Lord LLP on

Having concluded an investigation into New York life insurers’ underwriting guidelines and practices, the New York Department of Financial Services has issued Insurance Circular Letter No. 1 (2019) to advise insurers of their...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

Carlton Fields

When Innovation Meets Regulation: InsurTech and State Licensing Laws

Carlton Fields on

The rise of InsurTech — which brings technological innovations to the business of insurance — is having a significant impact on the insurance industry, including through advancements in cybersecurity tools, the introduction...more

Carlton Fields

When Innovation Meets Regulation - The Effect of InsurTech on Insurance Rebating Laws

Carlton Fields on

The rise of InsurTech — which brings technological innovations to the business of insurance — has recently had a significant impact on the insurance industry, including through advancements in cybersecurity tools, the...more

Carlton Fields

The Ghosts of Christmas Past, Present, and Future Haunt Insurers’ Use of Big Data and Algorithmic Tools

Carlton Fields on

Watching as legislators, regulators, and policymakers’ consider what changes, if any, are necessary for insurers’ use of big data and algorithmic tools, is like being visited by the Ghosts of Christmas Past, Present, and...more

Carlton Fields

Expect Focus - Volume III - September 2017

Carlton Fields on

EXPECTFOCUS® is a quarterly review of developments in the insurance and financial services industry, provided on a complimentary basis to clients and friends of Carlton Fields Jorden Burt, P.A. ...more

Eversheds Sutherland (US) LLP

NAIC Report: 2017 Summer National Meeting

The National Association of Insurance Commissioners (NAIC) met in Philadelphia, Pennsylvania for the 2017 Summer National Meeting from August 5-9. Commissioners, staff and interested parties alike converged in Philadelphia...more

Eversheds Sutherland (US) LLP

NAIC Report: 2017 Spring National Meeting

The NAIC’s 2016 Annual Report is titled, “Inspiring Innovation” and the themes of innovation and the new capabilities that technology offers were evident throughout the weekend. In March, the NAIC announced the creation of a...more

Carlton Fields

Back to the Future: 2017 [Expect Focus Life Insurance – December 2016]

Carlton Fields on

- Should Your Company Purchase Bitcoin to Pay a Cyber Ransom? - NAIC Draws Line in CFPB Sandbox - NAIC’s Big Data Task Force Sets Charges for 2017 - Broker-Dealers Can Hold Customers’ Initial Checks ...more

Eversheds Sutherland (US) LLP

NAIC Report: 2016 Spring National Meeting

The National Association of Insurance Commissioners (NAIC) held its 2016 Spring National Meeting from April 1 through April 6 in New Orleans, Louisiana. As host, Louisiana provided beautiful weather and bountiful great food....more

Foley & Lardner LLP

Technological and Information Concerns Highlight NAIC Spring 2016 National Meeting

Foley & Lardner LLP on

The National Association of Insurance Commissioners (NAIC) Spring 2016 National Meeting, which was held from April 3 – 6 in New Orleans, offered insight into numerous issues being considered by state commissioners nationwide....more

Carlton Fields

NAIC Evaluates Insurer’s Use of Variable Annuity Captives, Price Optimization, and Big Data

Carlton Fields on

At the National Association of Insurance Commissioners (NAIC) Fall National Meeting, regulators and consumer representatives continued to seek transparency on insurers’ use of annuity captive reinsurance transactions (VA...more

Carlton Fields

EXPECT FOCUS: Onboard Technology, NAIC Cybersecurity, DOL, ACA Litigation, SEC Regulation (Vol. III, Summer 2015)

Carlton Fields on

In This Issue: IN THE SPOTLIGHT - - Your Data Breach Collided With My Personal Injury Coverage LIFE INSURANCE - - Phantom Injury Dooms “Shadow Insurance” Case - Latest NAIC Cybersecurity News ...more

Carlton Fields

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

Carlton Fields on

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

20 Results
 / 
View per page
Page: of 1

"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