Data and information management

Releasing an ESG report prepares you to address potential risks hidden in operations.

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.

Consumers preferred to share data using smart devices in the home: 45% said they are happy to share information via Amazon Alexa, Google Home and the like. A little over a third of consumers (36%) said they were willing to share data through wearables or fitness health tests.

Roots Automation, Cowbell Insurance and Capitola are among the younger companies that have started using GPT technologies.

In a data breach at OpenAI, some ChatGPT users were able to see other users' financial data. In other cases, users have invoked their dead grandmothers to access information that should have been sealed off.

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

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.

Co-founders Anthony Marshi and Toby Hung recently secured $2 million in funding for a platform automating cyber insurance coverage focused on medium and large sized businesses.

In other news: Chewy expands pet insurance nationwide and Tokio Marine launches a market intelligence platform.