Washington Insurance Commissioner Patty Kuderer convened her first Artificial Intelligence Advisory Board meeting in Seattle this week to look at the insurance industry’s use of AI and to get recommendations on policy development, regulatory oversight and consumer education efforts.
The advisory board reviewed its charter and expectations, discussed the use of AI in insurance, identified initial priorities and working groups and planned next steps during its inaugural meeting.
The boar follows an Office of the Insurance Commissioner bulletin sent last year to insurers doing business in the state reminding them that decisions or actions impacting consumers that are made or supported by AI or other advanced analytical and computer technologies must follow insurance laws and regulations. The bulletin was based on a model advisory adopted by the National Association of Insurance Commissioners.
“I see our new AI Advisory Board as a potential vehicle for agency request legislation, rulemaking, and general OIC internal policy decisions on governance and innovation,” Kuderer stated.
Topics Carriers InsurTech Data Driven Artificial Intelligence Washington