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AI Implications in the Insurance Industry
Length: 1 Hour
This seminar begins with a “big picture” look at Artificial Intelligence. Many view AI as a precursor to a doomsday scenario, which is why the introductory section contains a reference to The Terminator movie franchise and Skynet becoming self-aware. However, AI is enabling incredible breakthroughs in analyzing mountains of data. The Herculaneum Scrolls are being successfully (albeit slowly) deciphered without being unrolled and destroyed. This is not merely a point of curiosity for the insurance industry. The discussion sets the stage for the good, and not-so-good, ways in which AI can be used inside the insurance industry. The seminar concludes with a look at how AI handles coverage questions, with the answer being “better, but not great yet.” This section borrows from materials developed by Randy Maniloff, a nationally known coverage attorney. Mr. Maniloff “asked” AI some coverage questions in 2023 and again in 2024. AI flunked the test, so to speak, in 2023, but managed to eke out a passing grade in 2024.
Richard Pitts, Vice President and General Counsel, Arlington Roe
Richard S. Pitts is a private practice attorney in the insurance industry. Rick serves as Vice-President and General Counsel to Arlington/Roe & Co., Inc., an insurance brokerage and managing general agent headquartered in Indianapolis. Rick also serves as general counsel to the Independent Insurance Agents of Indiana, Inc., as well as its sister organization in Kentucky. Rick speaks annually at the “Roadshows” in Kentucky and Indiana’s Agency Compliance Seminars and presents various seminars on insurance and employment related matters. Pitts has also presented continuing education seminars to insurance professionals nationally through industry groups including the National Alliance for Insurance Education and Research.
Rick is a 1983 graduate of Wabash College and a 1986 graduate of Indiana University School of Law – Indianapolis. Pitts clerked for the Honorable Patrick D. Sullivan, a judge of the Indiana Court of Appeals in 1986-87. Rick is admitted to practice before Indiana state and federal courts, the United States Supreme Court and the United States Court of Appeals for the Seventh Circuit and is a member of local, state and national bar associations. Pitts has tried multiple cases and participated in over seventy appeals.
Pitts is the recipient of the “Excellence in Continuing Legal Education Award” from the Indiana Continuing Legal Education Forum (ICLEF), having served as a panelist and lecturer on a variety of continuing education subjects. Pitts has co-authored two articles appearing in the Indiana Law Review.
