California Amends CCPA Regulations on Opt-Out of Sale of Personal Info | Weiner Brodsky Kider PC
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New Updates to the Latest Round of CCPA Regulations
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Viewpoint: The Future of Commercial Insurance Is Connected Insight By Chris Koverman | April 1, 2021
Artificial intelligence adoption across the insurance industry is taking off. In its report, “The Dawn of the Age of AI in Insurance,” Genpact noted that insurers recognize the value and potential of AI, “with 87% of carriers investing more than $5 million in AI-related technologies each year. This is more than both banking (86%) and consumer goods and retail companies (63%).”
Genpact’s researchers also projected that AI would make a fundamental impact on the insurance industry in the coming years. Signaling this prediction will hold, the National Association of Insurance Commissioners’ Innovation and Technology Task Force formed a working group devoted to AI, which drafted the recently adopted “Principles on Artificial Intelligence (AI)” to help guide third parties, regulators and NAIC committees looking into AI in insurance.
Consumers show more interest in exercising privacy rights
Consumers are exercising their privacy rights to access, delete or stop the sale of their data under the California Consumer Privacy Act (CCPA) which came into force last year.
A new report from privacy platform DataGrail shows that consumers are increasingly concerned about their personal information and how it s used. It also reveals that the number of data subject requests (DSRs) companies receive varies wildly, depending on their privacy practices. With Apple leading a new charge on privacy and CCPA entering its enforcement stage, consumers are not only more aware of how their data is being used than ever before, they also realize, perhaps for the first time, that they have options to protect their information, says Daniel Barber, CEO and founder of DataGrail. As more and more states explore data privacy legislation, and as tech leaders take on privacy issues, we anticipate the number of DSRs to increase in the c