How Artificial Intelligence Is Reshaping Liability and Legal Costs for Insurers
For the insurance industry, artificial intelligence (AI) is a double-edged sword. Insurers can harness AI for efficiency, but the same tools may also empower plaintiffs, litigation funders, and law firms to mass-produce and automate claims.
This paper identifies how AI is currently being utilized within the insurance industry, explores how this technology could exacerbate legal system abuse, and offers a framework of responses and strategies that insurers can deploy to resist or mitigate this emerging threat.
Authors
Lorie Graham
Senior Vice President & Chief Risk Officer • Corporate Services
Tim Lessman
Deputy General Counsel & Deputy Privacy Officer • Office of General Counsel