Digital Insurance spoke with three actuaries about emerging technologies and the challenge of explainability within complex models.

The ledger technology can make artificial intelligence systems more transparent, some industry stakeholders say.

The founding members include three insurtechs that are focused on developing standards related to the use of AI within the insurance industry.

The use of catastrophe models and of sophisticated AI to make coverage decisions are all under debate.

AI-powered catastrophe and risk models use varied sources, including aerial imagery.

It can eliminate geographical barriers and allow teams to access and share data more freely.

Five best practices can assist in selecting and integrating generative AI data.

In other news: A Nationwide survey shows customers are reducing their homeowner's insurance coverage.

The senior data scientist shares about his work in identifying demographic bias in machine learning models.

The industry may want to build its own large language model.

He shares how new technologies like machine learning and AI are shaking up the industry and the role of insurance agents.

The release of two malicious language models — WormGPT and FraudGPT — demonstrate attackers' evolving capability to harness language models for criminal activities.

In other news: NEXT launches commercial excess liability and liquor liability coverages.

Secretary of the Commonwealth William F. Galvin says a probe into how firms are using AI isn't a condemnation of the tech but an acknowledgement of its potential impact.

Companies that don't use the technology on average pay $1.76 million more and take 108 days longer to respond to incidents than firms that utilize it.

Insurers are adapting AI technology to improve customer experience, enhance fraud detection and create accurate risk-ranking models.

Analytics and agent-to-broker communications are becoming more popular applications for cloud data management. Marketing and automation applications haven't yet reached that kind of critical mass. Google and Amazon discuss their cloud services approaches.

Cloud giants are making major investments in generative AI and large language models. Their financial services clients are mostly in test-and-learn mode.

Rebuilding artificial intelligence algorithms to explicitly integrate transparency and overcome black box limitations.

The National Association of Insurance Commissioners has issued guidance to insurance companies about existing laws and governance requirements they need to follow as they develop and use AI models. Experts say it's a good first step.