TALLAHASSEE, Fla. — The use of artificial intelligence in the insurance industry now has the attention of some Florida lawmakers.
On Oct. 7, several executives were called in to face questions before the House Subcommittee on Banking and Insurance.
WATCH BELOW: Florida lawmakers probe AI use in insurance claims, pricing decisions
"Insurance companies have used AI for decades, but the rise of generative AI is a game changer," Gary Sullivan of the American Property and Casualty Association said. "It's not about improving existing processes, it's about reimagining them, from underwriting and claims to customer service and risk management."
During the meeting, lawmakers had questions about how AI can affect policies, premiums and claims.
The executives said AI is viewed as a valuable tool that can make insurers work smarter, faster and more accurately.
State Rep. Hillary Cassel, R-Dania Beach, pressed the executive further.
"What law is on the books that's going to tell an insurance company that AI cannot be the sole basis for the determination of a denial of a claim, whether it's health insurance, property, etc.?" Cassel asked.
"We want to be careful and work with our IT people to make sure it's being done in the right way," said Thomas Koval of the Florida Insurance Council. "It's not like we're going to turn everything on to Google and ask, 'should we pay this claim?'"
So, what will happen next?
These committee meetings are typically held for fact-finding.
Lawmakers then use the information in these meetings to try and come up with ideas for new laws, so it is possible we may see some bills filed related to AI and insurance.
Matt Sczesny is determined every day to help you find solutions in Florida's coverage collapse. If you have a question or comment on homeowners insurance, you can reach out to him any time.
