As artificial intelligence (AI) and data analytics gets more refined and adopted across multiple industries, this is proving to be problematic for insurance, with these technologies being adopted by plaintiffs.
“I see that the plaintiffs are even more sophisticated, figuring out how to how to use data, use AI, to solicit better outcomes for their customers,” said Tanner Hackett (pictured), CEO of Counterpart.
“I think that’s some of the reason that we’re seeing social inflation – insurance carriers are the ones that are paying for these claims, it’s not a fair fight.”
