JACKSON, Miss. (WLOX) — The Mississippi Insurance Department has revoked the licenses of dozens of out-of-state insurance agents accused of fraud this week.
Insurance Commissioner Mike Chaney said the agents were selling health insurance policies, including some Medicare plans, and falsifying reports to earn commissions.
AI used to enroll consumers
Chaney said bad actors are now using artificial intelligence to enroll consumers who never requested coverage, or who don’t exist.
“Using AI, they can flip a hundred thousand people and get fifty dollars for each of them,” Chaney said. “They make five million dollars in a minute if they know what they’re doing.”
Gaps in state law
Chaney said Mississippi lawmakers have not given the insurance department the authority to require fingerprint background checks on agents. State law also requires a 90-day waiting period before a fraudulent license can be revoked…