The American InsurTech Council (AITC) and the InsurTech Association (ITA) have announced the creation of a new strategic alliance to help shape the direction of how insurance carriers use Artificial Intelligence (AI) and related digital technologies.
By merging their expertise and resources, AITC and ITA are set to offer valuable insights to policymakers tasked with establishing regulatory standards for AI in insurance. This partnership signifies a significant stride towards fostering innovation in regulatory policies and driving positive industry transformation, particularly in technology integration and advancement.
AITC is a nonprofit, independent advocacy organization formed by seasoned insurance professionals, including former regulators, dedicated to advancing public interests through regulatory policies that promote ethical, technology-driven innovations in insurance.
ITA is a nonprofit association with a mission of advancing innovation in insurance with over 130 member companies. The association was founded by experienced entrepreneurs, investors, and industry experts familiar with the challenges of launching and operating insurtech ventures.
“Our relationship with the ITA (InsurTech Association) significantly strengthens the effectiveness of AITC’s engagement with policymakers on the regulatory standards that will govern insurer use of AI,” said Scott Harrison, Co-Founder of The American InsurTech Council. “We couldn’t ask for a more valuable partner than the ITA members who are at the forefront of innovation in insurance.”
Bob Sargent, Co-Founder of the InsurTech Association, added, “Our alliance with AITC represents a pivotal moment for insurtech. Together, we are poised to influence policy and empower innovators to navigate the complex insurance landscape with cutting-edge technologies.”
The collaboration between AITC and ITA promises to drive forward-thinking initiatives that will shape the future of insurance technology.
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