From: Insurance NewsNet
A host of consumer advocates and organizations have brought new concerns to the attention of the National Association of Insurance Commissioners’ Innovation, Cybersecurity, and Technology (H) Committee, urging them to address matters of how insurers are using AI even as regulations are still under development.
At a recent NAIC meeting, advocates presented on three specific topics related to the use of AI in insurance:
- Adequate testing for unfair discrimination where multiple data sets are being used
- Proposed development of a new NAIC Model Privacy Act
- Use of AI in health insurance specifically
Miguel Romero, NAIC director, P&C Regulatory Services, noted that the concerns raised by the various consumer groups during the meeting will help to inform related undertakings already underway by the NAIC.
Additionally, consumer groups noted that formal comments and suggestions will be forwarded to the H Committee for consideration at a later time.
