NAIC survey: 88% of insurers are using AI or machine learning - Insurance News

A recent survey of auto insurers found that 88% of insurers currently use, plan to use or plan to explore using artificial intelligence or machine learning as part of their everyday operations. The National Association of Insurance Commissioners published the report by the Big Data and Artificial Intelligence Working Group. It is part of a wide-ranging effort on the part of several NAIC groups to get a better grasp on artificial intelligence and big data usage in insurance. The 193 respondents to the Private Passenger Auto Artificial Intelligence/Machine Learning Survey say they are staying away from the controversial uses of AI and data tracking. Most respondents said they are using AI/ML in claims, followed by marketing and fraud detection, and only a minority using it for underwriting, rating and loss prevention.