National Association of Insurance Commissioners is drafting
principles for the use of artificial intelligence in insurance.
The Artificial Intelligence (EX) Working Group of the National
Association of Insurance Commissioners (NAIC) is working on
developing "Artificial Intelligence (AI) Principles for
Insurance" (the "Principles"). The Working Group has
exposed the draft Principles, which were discussed by the Working
Group at the NAIC National Meeting in Austin, TX on December 7,
2019.
The draft Principles can be found here. They are intended to be very high-level
guidelines for all actors involved in exploring, evaluating, and
implementing the use of artificial intelligence in insurance in the
US, and they cover areas such as fairness and ethical use,
transparency, and compliance with existing insurance laws and
regulations.
