TAMPA, Fla. (WFLA) — A Florida Legislature subcommittee met with insurance company executives to discuss artificial intelligence, where executives argued that AI increases the productivity of insurance companies, allowing them to work harder, smarter and more accurately.
But many lawmakers remain skeptical about what risks an unrestricted reliance on AI could pose.
“Insurers have been using AI for decades, but the rise of generative AI is a game-changer. It’s not about proving existing processes, it’s about rethinking them,” said Gary Sullivan of the Property Casualty Insurance Association of America.
Rethinking the future of generative AI and how it can protect policyholders and premiums is why the House subcommittee chose to consult with the Executive, which continued its praise.
“We have a much better ability to consider all the factors, from whether to write a proposal, to pricing, to weather issues, to satellite issues,” said Thomas Koval, a board member and president of FCCI Insurance Group.
The subcommittee vice chair from South Florida continued to press executives on how to regulate reliance on AI when processing claims.
“What is the law in Florida that tells insurance companies that AI cannot be the only basis for denial, whether it’s health insurance or real estate?”
“We want to be careful and work with the IT people to make sure it’s done the right way. But we’re not leaving everything up to Google,” Koval said.
