Description: Dive into the approach and adverse effects of the regulation of 3rd parties and advance consent by the proposed NAIC Consumer Privacy Protection Model Law #674. The regulation of 3rd parties through their contracts with insurers will be explained. Specifics will be provided on the negative effect on companies contracting with 3rd parties. The requirement for advance consent for use of personal data for actuarial and marketing studies will be explained, and two potential solutions will be presented.

Description: Walk through real-life examples of how artificial intelligence (AI) can be used to drive insights and aide actuaries in improving the management of their company's inforce book of business. Hear a panel of experts go step-by-step through case studies, showing how practitioners leveraged predictive analytics for solutions to tap further into their data and draw improved insights.Leave the session with knowledge of how to partner advanced machine learning techniques with the actuarial skills and insights to better understand policyholders' behavior to more efficiently enable accelerating revenue and further profit realization.

Description: Become informed about the approach and adverse effects of the regulation of third parties and advance consent by the proposed NAIC Consumer Privacy Protection Model Law #674. You will hear an explanation of the regulation of third parties through their contracts with insurers. Learn specifics on the negative effect on companies contracting with third parties. Find out more about the requirement for advance consent for use of personal data for actuarial and marketing studies, and hear two potential solutions .At the conclusion of this session, you should be able to explain concerns about contracting with third parties for external data under the Model Law and learn potential solutions to using personal data for actuarial and marketing studies.