Insight

Artificial Intelligence(AI)–enabled insights

Identification of potential COVID-19 insurance policy exposures

Jeanne Johnson

Jeanne Johnson

Principal, Financial Management, KPMG US

+1 704-335-5341

Martin Kaestner

Martin Kaestner

Principal, I&ES, KPMG US

+1 703-674-7571

Scott Weinstein

Scott Weinstein

Principal, Advisory, Actuarial, KPMG US

+1 404-222-3594

As the economic shutdown in response to COVID-19 continues to impact businesses across the country, there are increasing calls for the Property and Casualty Insurance industry to compensate claimants through business interruption (BI) policies.  Companies are under to pressure from a variety of stakeholders including regulators, investors and auditors to identify where exposure may exist to BI claims and to quantify the potential impact of that exposure. 

This paper will address the cataloging of insurance policy exposures, the challenges associated with developing a policy language inventory, and solutions to analyze insurance policies and assess key provisions enabled by AI through KPMG Ignite.