technology

Gen Re is pleased to share this summary of key highlights from the U.S. 2023 Individual Life Accelerated Underwriting Survey.

Colorado Division of Insurance proposes first-of-its kind regulation requiring life insurers to test their underwriting process for racial and ethnic bias.

It's on a mission to make underwriting more inclusive

Generative artificial intelligence (GenAI) has the potential to revolutionize the insurance industry. While many insurers have moved quickly to use the technology to automate tasks, personalize products and services, and generate new insights, further adoption has become a competitive imperative.

For insurers, digitization continues to evolve, providing greater functionalities, analytical capabilities, and more. In this article, Dr. Dhiraj Goud discusses the many new tools now available to the industry, their benefits, and their challenges. 

The Geneva Association recently published a comprehensive report on the use and regulation of AI in the insurance industry. AI is a key part of the digital transformation of insurance, the report says, and its associated risks are already familiar to insurers.

The Colorado Division of Insurance has approved a closely watched regulation that could affect how life insurers use outside vendors’ artificial intelligence systems, and any other outside sources of data or analytical technology, in life insurance underwriting.

Life insurance companies have a reputation for being something akin to an oil tanker – big, and slow. But their approach to incorporating generative AI (GenAI) into various functions of their businesses can hardly be claimed to be thus.

The introduction of artificial intelligence (AI) into the insurance industry is transformative, heralding a new era marked by improved efficiency, accuracy and personalization. However, with this technological shift comes a significant yet often overlooked concern—AI bias.

SCOR recently conducted a mortality analysis using LexisNexis® Risk Solutions data to assess the effectiveness of the LexisNexis Risk Classifier with Medical Data scores in stratifying mortality risk when compared to the LexisNexis Risk Classifier scores and ExamOne HealthPiQture scores separately.