In the technology realm, self-driving cars and big-data analytics present the biggest regulatory challenges to the insurance industry in the near term. That's according to a panel of experts who spoke at the Property/Casualty Insurance Joint Industry Forum in New York Tuesday.
The biggest barrier to approving new innovations comes because regulators don't quite understand the technologies insurers want to use. As a result, industry-wide modernization efforts are colliding with the regulatory framework, says Ted Nickel, commissioner of insurance at the Wisconsin Insurance Department.
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