A national consumer interest group has said that insurance companies have more information about customers than social networks . The Consumer Federation of America said insurers often know more about individuals than legal authorities do and can collect sensitive data without the need for a warrant on such things as credit reports or the contents of a customer ’s home . They are also increasingly gleaning information about customers via the use of artificial intelligence . The National Association of Insurance Commissioners has created a research group to assess how insurers are processing and using crowd - sourced big data .
A US consumer interest group has cautioned that insurance companies have more information about customers than social networks. The Consumer Federation of America said insurers often know more about individuals than legal authorities do and can collect sensitive data without the need for a warrant on such things as credit reports or the value of a customer’s home. Companies are also increasingly gleaning information about customers via the use of artificial intelligence. The National Association of Insurance Commissioners has created a working group to assess how insurers are processing and using consumer-sourced big data.