August 8, 2024

AI Regulation in the Insurance Industry – Impacts of the New York Circular

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The New York Department of Financial Services (NYDFS) issued Insurance Circular Letter No. 7, which provides guidance on the use of Artificial Intelligence (AI) and External Consumer Data and Information Sources (ECDIS) in insurance underwriting and pricing.
The Circular has significant implications for the insurance industry, especially in the areas of data governance, algorithmic accountability, and consumer protection.
Join DLA Piper’s Kathleen Birrane, Zev Eigen, and Mike O’Day as they discuss the key aspects of the circular, the challenges and opportunities it presents for insurers, and the best practices for compliance and risk management.

RegulatingAI, a non-profit organization, is dedicated to establishing a platform for grassroots advocacy concerning artificial intelligence (AI) regulation. We serve as a bridge connecting AI experts, researchers, corporations, NGOs, academicians, students, and enthusiasts. RegulatingAI is committed to harnessing the power of shared knowledge to construct a responsible and ethical AI ecosystem.