Innovation in the insurance sector should not be slowed down by regulation, according to Ted Nickel, Wisconsin commissioner of insurance and president of the Property/Casualty Insurance Joint Industry Forum (NAIC). Speaking at a session of the National Association of Insurance Commissioners, he urged incumbent commissioners to open their minds to the use of data and analytics, as well as emerging technologies like driverless cars. The industry needs to "embrace a lot of the change going on", according to Nickel.
Innovation in the insurance sector should not be slowed down by regulation, according to Ted Nickel, Wisconsin commissioner of insurance and president of the National Association of Insurance Commissioners (NAIC). Speaking at a session of the Property/Casualty Insurance Joint Industry Forum, he urged incumbent commissioners to open their minds to the use of data and analytics, as well as emerging technologies like driverless cars. The industry needs to "embrace a lot of the change going on", according to Nickel.