Insurance regulators in an era of advanced technologies
Challenges and opportunities in oversight
As more and more insurance companies embrace the latest technologies, such as advanced and predictive analytics and robotic process automation, a growing number of regulators are doing the same. How may these developments alter how regulators provide oversight and, ultimately, protect consumers?
We examined regulators’ attitudes toward and concerns about new technologies, and briefly discuss the implications for insurance companies as they seek to reduce cost, enhance efficiency, and, ultimately, establish more robust compliance programs that withstand regulators’ evolving expectations from the use of these technologies.