Wednesday, August 19, 2020
On August 14, the Nationwide Affiliation of Insurance coverage Commissioners (NAIC) adopted ideas for synthetic intelligence that have been developed during the last 12 months by the NAIC’s Synthetic Intelligence Working Group.
Amongst different issues, the ideas require that insurers and others utilizing AI:
Take proactive steps to keep away from proxy discrimination towards protected courses. (As NAIC President Ray Farmer (S.C.) famous, that is a part of the NAIC’s broader effort to handle racial equality points.)
Monitor the operation of its AI system and remediate dangerous, unintended penalties.
Present accountable disclosures and provides shoppers a chance to inquire about and search overview of AI-driven selections.
Take a threat administration method to every part of the AI system’s life cycle.
The ideas would not have the impact of regulation, however they set out the regulators’ expectations and can kind the idea for future regulatory workstreams.
In case your group is utilizing AI, it’s time to think about how your programs measure as much as the regulators’ expectations.
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