NAIC Group Adopts AI Principles
The Artificial Intelligence Working Group of the National Association of Insurance Commissioners (NAIC) approved principles on June 30 that urge insurers and others using artificial intelligence (AI) to take proactive steps to avoid proxy discrimination against protected classes. In the run-up to the vote, North Dakota Insurance Commissioner Jon Godfread, who chairs the working group, said the nation's insurance regulators are committed to addressing discriminatory practices while preserving the industry's ability to engage in appropriate underwriting.
The AI principles will be considered by the NAIC’s Innovation and Technology Task Force on July 23 and, if approved, by the full NAIC membership during the virtual summer national meeting. While the principles will not have the effect of law, they are expected to serve as a road map for future regulatory actions.