Greenberg Traurig, LLP’s Post

📢 Join us for the IBA Insurance Conference 2024: AI in insurance and other global insights, book your spot below. 🗓️ March 12 - 13, 2024 📍 Westin London City, London, England 🔗 Register Now: https://lnkd.in/eKw2Sy6b The conference will focus on key issues in insurance law, covering topics such as the impact of AI, M&A trends, the role of Managing General Agents, transactional risk insurance, regulatory changes, political risk insurance, D&O developments, arbitration insurance, and global claims review across continents. Let us know you are attending #IBAIns #AIinInsurance #GlobalInsights #GlobalClaims #ArtificialIntelligence

The French actuaries of the Institut des actuaires presented two intruiging inputs from young professionals at this year's CONVENTION A | EUROPE on #datascience and #machinelearning. Check them out now: Building an Interpretable Machine Learning Model for Non-life Insurance Underwriting, Markéta Krúpová: https://lnkd.in/eW3DCAzw Contribution of Insurance Data to the Study of Natural Risks, Antoine Heranval: https://lnkd.in/ezuVeNZu

We're looking forward to attending National Association of Mutual Insurance Companies (NAMIC) with the Pibit.ai team to share how our loss run analysis helps underwriters work more efficiently and gain better insights. You can find us at Booth 724! It’s a great opportunity to meet with industry leaders, exchange ideas, and explore practical solutions for improving underwriting processes. If you're attending, let’s connect! See you there! #Insurtech #Conference #Underwriting #AI #LossRunAnalysis #PibitAI

It was great hosting so many insurance investment professionals at the Janus Henderson Insurance Symposium 2024. Thanks to all those who attended and especially our speakers for sharing their views and insights on insurance investment portfolio management. #Insurance #Investment #JanusHenderson #JHI

The New York Department of Financial Services (NYDFS) issued Insurance Circular Letter No. 7, which provides guidance on the use of Artificial Intelligence (AI) and External Consumer Data and Information Sources (ECDIS) in insurance underwriting and pricing. The Circular has significant implications for the insurance industry, especially in the areas of data governance, algorithmic accountability, and consumer protection. Join DLA Piper's Kathleen Birrane, Zev Eigen, and Mike O'Day as they discuss the key aspects of the circular, the challenges and opportunities it presents for insurers, and the best practices for compliance and risk management. #NYCircular #insuranceregulation #artificialintelligence

Case Studies: Thriving Amid Regulatory Changes 📚 • Success Stories: Share case studies of insurance agencies that have successfully navigated regulatory changes, focusing on their strategies and outcomes. • Lessons Learned: Highlight the key lessons learned from these case studies and how they can be applied to your agency. • Innovative Solutions: Showcase innovative solutions and tools that helped these agencies stay compliant and thrive. • Peer Insights: Include insights and quotes from industry peers who have experienced similar challenges and successes. • Practical Tips: Provide practical tips and actionable advice based on the experiences of these successful agencies. • Continuous Learning: Emphasize the importance of continuous learning and adaptation in a constantly evolving regulatory landscape. #InsuranceCaseStudies #RegulatorySuccess #IndustryInsights

#insuranceindustry has always been very precise on the right to #underwrite and now when the biggest market for #insurance is being monitored with the #fairness rulings, what does this mean to #insurances? ✍️These rulings prioritize fairness of access over merit, limiting insurers' traditional underwriting rights. ✍️The shift is part of a new fairness landscape, requiring insurers to consider broader views on fairness. ✍️US insurers face challenges such as State Farm's class action lawsuit for discriminatory practices and state legislation tightening anti-discrimination laws in auto insurance. ✍️These developments, starting in Illinois, are likely to influence insurers across #usa. ✍️Insurers are under pressure to address and prove efforts to eliminate unfair discrimination, exemplified by Colorado’s SB21-169. ✍️The "right to underwrite" is a social construct that has evolved and will continue to evolve with societal expectations. What to look and we do not recommend is to: look back and wait as then then the #industry is even less on the drivers seat. Globally the #eu #ai will lift its own agenda on the table as it impact to all #platforms operating in the #european region. The layers being built around insurance are increasing and that means having another door opener for to look for further #insuranceinnovation within these shifts for the industry. #insuranceinnovation #consulting #localrisksglobalinsured #insights #data Adobe #firefly

The New York Department of Financial Services (NYDFS) issued Insurance Circular Letter No. 7, which provides guidance on the use of Artificial Intelligence (AI) and External Consumer Data and Information Sources (ECDIS) in insurance underwriting and pricing. The Circular has significant implications for the insurance industry, especially in the areas of data governance, algorithmic accountability, and consumer protection. Join DLA Piper's Kathleen Birrane, Zev J. E. Eigen, and Mike O'Day as they discuss the key aspects of the circular, the challenges and opportunities it presents for insurers, and the best practices for compliance and risk management. #NYCircular #insuranceregulation #artificialintelligence https://lnkd.in/ewyu-QQr

Should be interesting and informative.

#insurance #ai The Financial Conduct Authority says #financialservices in Britain does not need new AI #regulation to protect market integrity and #consumers because we have (1) #smcr (so #boards #neds & senior managers in the firm are accountable) and (2) #consumerduty which will ensure #fairness (because the #boards #neds & senior managers in the firm are responsible). That is true, but it's also far from the whole story. There is a yawning gap between theory and practice: the detail of HOW you exercise accountability and responsibility remains #workinprogress Do we really want (or need) to wait for enforcement actions, caselaw or super-complaints? Let's NOT. 😎 The intrepid working group building an independent #aiaudit framework for #insurance as #deployers continues our work this Wednesday, 3-4pm BST/GMT. We're now getting into the practicalities of what Boards, NEDs & SMFs (Senior Management Functions) should DO & REQUIRE, of themselves, TPAs, partners & #saas #tech providers. Come share, learn & contribute with us! 👇 John Gaynor Penny Jones Sheá Panayi Vicki Heslop Paul Dongha PhD Mary Bowie Charlotte Gregory Dip CII Kevin Sookhee Kishan Mangat Graeme Howard Elliot Biggs Oli Henderson David Ferguson David Withnell Peter Hamilton Johnny Timpson OBE David Williams Suneeta Padda Sharon Brown Cert CII Tim Smyth Chris Frogner Ben Smyth Mick McAteer David Fagleman Alison Rayner Hannah Pring David Hamilton Simon French Lucia Dormer Steve Folkard Jagdev Kenth Ian Edge Rebecca McLean Clive Hearn Dr Anandhi Vivek Dhukaram PhD MBA Caroline Wells Matt Smith Emma Parry Simon Green #infrastructureoftrust