Using AI to deny property and casualty insurance claims or settle them for less may not be clear cut, and could be done by analyzing other aspects of a claim, like the claimant’s personal finances.
“From the advent of things like data mining, AI, risk scoring and the C.L.U.E. database [Comprehensive Loss Underwriting Exchange auto and property reports from LexisNexis], the more data insurers have about consumers, the more we see the risk of them using that data to exploit consumers’ vulnerability,” said Amy Bach, executive director of the United Policyholders consumer group.