Data scientist Cathy O'Neil warns that insurance companies need more risk pooling.

FTC Chair Lina Khan, who testified before Congress Thursday, has raised concerns about AI before, saying enforcers "need to be vigilant early" with transformative tools like artificial intelligence.

In May, the California Department of Insurance sent surveys to property & casualty insurers, to get information about how insurers are using tools like big data, artificial intelligence and machine learning in their decision making processes.

State Farm and Allstate are no longer writing new homeowner policies in California. But some insurtechs argue that with better data, carriers can make more nuanced decisions.

It is important to leverage human-in-the-loop processes, rather than automating them away, and to surface relevant information for agents to help contextualize interactions with policyholders.

The chief information and operations officer said the company is working to give customers "seamless pickups" from voice to app to website.

So far, the bots are popular conversation partners. Character.AI users have sent 36 million messages to Mario, a character based on the Nintendo 64 version of the video game plumber.

As climate change continues to worsen extreme weather, damaging homes and wreaking havoc on crops, the need for more responsive insurance policies is growing.

Jim Ryan, who joined State Farm as an innovation executive at the start of 2023, spoke with Digital Insurance about his ideas for how to innovate technology and operations at the carrier, how telematics will continue to change auto coverage, and how tech advances can reduce risk.

The Connecticut insurer has banned employees from using OpenAI's public ChatGPT system, but its chief information officer's team is experimenting with at least three use cases for large language models internally, and she has much more on her tech roadmap.