Naic Survey Finds That Overwhelming Majority Of Private Passenger Auto Insurers Use Or Plan To Use Artificial Intelligence/machine Learning For Their Insurance Operations

The National Association of Insurance Commissioners (NAIC) Big Data and Artificial Intelligence (H) Working Group has published a Report on the use of Artificial Intelligence (AI) and Machine Learning (ML) technology by private passenger auto (PPA) insurers. The Report finds that 88% of surveyed insurers either currently use, plan to use, or plan to explore using AI/ML for their insurance operations, with the greatest use in claims, followed by marketing and fraud detection. The Report is the first of a series of AI/ML studies to be undertaken by state insurance regulators based on specific lines of business.