News & Analysis as of

Machine Learning NAIC Insurance Industry

Maynard Nexsen

NAIC Spring Meeting Update Part Two

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As discussed in last week’s article, along with almost 3,000 regulators and insurance industry leaders, the Maynard Nexsen Insurance Regulatory team of attorneys attended the National Association of Insurance Commissioners...more

Mayer Brown

US NAIC Spring 2025 National Meeting Highlights: Innovation, Cybersecurity, and Technology (H) Committee

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On March 26, 2025, the Innovation, Cybersecurity, and Technology (H) Committee (“H Committee”) met at the Spring 2025 US National Meeting of the National Association of Insurance Commissioners (“NAIC”). The meeting covered...more

Fenwick & West LLP

AI in the Insurance Industry: Balancing Innovation and Governance in 2025

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The insurance industry embraced the transformative power of Artificial Intelligence in 2024 and will continue to do so in 2025. According to the surveys conducted by the Big Data and Artificial Intelligence Working Group of...more

Troutman Pepper Locke

Artificial Intelligence State Insurance Regulation: A Year in Review

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Much of the activity surrounding the state insurance regulation of artificial intelligence (“AI”) in the insurance industry this year was prompted by the NAIC Model Bulletin: Use of Artificial Intelligence Systems by Insurers...more

Troutman Pepper Locke

Oklahoma Issued Bulletin 2024-11: Use of Artificial Intelligence ‎Systems in Insurance

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On November 14, 2024, Oklahoma issued Bulletin 2024-11: Use of Artificial Intelligence Systems in Insurance....more

Troutman Pepper Locke

Iowa Insurance Division Releases Proposed AI Bulletin for Comment

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On October 10, 2024, the Iowa Insurance Division released for comment a proposed AI Bulletin based upon the NAIC AI Model Bulletin. Comments are due before October 31, 2024....more

Carlton Fields

NAIC Still Juggling Multiple AI and Machine Learning Initiatives

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The many balls that the various National Association of Insurance Commissioners groups currently have in the air focusing on life insurers’ use of artificial intelligence and machine learning were reflected in the reports...more

Troutman Pepper Locke

West Virginia Issued Bulletin No. 24-06 RE: Artificial ‎Intelligence

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On August 9, 2024, the West Virginia Office of the Insurance Commissioner issued Bulletin 24-06 on Artificial Intelligence Systems (“Bulletin”). The Bulletin is applicable to “all insurers authorized to do business in West...more

Troutman Pepper Locke

Arkansas Issued Bulletin 13-2024 RE: Use of AIS in Insurance

Troutman Pepper Locke on

On July 31, 2024, Arkansas issued Bulletin 13-2024 on the Use of Artificial Intelligence Systems in Insurance. The Bulletin is applicable to all companies licensed to do business in Arkansas and is based upon the NAIC Model...more

McDermott Will & Emery

State Regulators Address Insurers’ Use of AI: 11 States Adopt NAIC Model Bulletin

In December 2023, the National Association of Insurance Commissioners (NAIC) adopted a Model Bulletin on the Use of Artificial Intelligence (AI) Systems by Insurers. The model bulletin reminds insurance carriers that they...more

Carlton Fields

Racing Ahead: Privacy, Cybersecurity, and AI Heats for the Life Insurance Industry

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Drivers, start your engines. It has been months of high speed for privacy, cybersecurity, and artificial intelligence....more

Fenwick & West LLP

NAIC Forms Third-Party Data and Models Task Force and Proposes 2024 Charges and Work Plan

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At the recent National Association of Insurance Commissioners (NAIC) meeting in Phoenix, Arizona (March 14–18), a new Third-Party Data and Models Task Force (Task Force) was created. The charges of the Task Force are twofold....more

Fenwick & West LLP

Best Practices for Utilizing AI/ML Tools as NAIC Adopts the Model Bulletin on Use of AI

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At the recent 2023 national meeting of the National Association of Insurance Commissioners (NAIC) in Orlando (November 30 – December 4), the Innovation Cybersecurity and Technology Committee of NAIC (the “H Committee”) and...more

Skadden, Arps, Slate, Meagher & Flom LLP

AI Insights: NAIC Releases Draft Model Bulletin Regarding Use of AI by Insurers

In July, the Innovation, Cybersecurity and Technology Committee of the National Association of Insurance Commissioners (NAIC) released an exposure draft of its model bulletin titled “Use of Algorithms, Predictive Models, and...more

Bricker Graydon LLP

Artificial Intelligence - There's Nothing Fake About It

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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

Eversheds Sutherland (US) LLP

NAIC survey finds that overwhelming majority of Private Passenger Auto Insurers use or plan to use Artificial Intelligence/Machine...

In December 2022, the National Association of Insurance Commissioners (NAIC) Big Data and Artificial Intelligence (H) Working Group published a Report on the use of artificial intelligence (AI) and machine learning (ML)...more

Carlton Fields

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

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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

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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

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