New York’s Department of Financial Services Seeks Comment on the Use of Artificial Intelligence in Insurance Underwriting and Pricing
Posted on January 18, 2024 by Michael F. Buchanan, Newton Portorreal, Jr.
The New York State Department of Financial Services (“DFS”) has entered its voice regarding the use of artificial intelligence (“AI”) by insurers by issuing for public comment a proposed circular letter addressing the use of artificial intelligence, specifically external consumer data and information sources (“ECDIS”) and artificial intelligence systems (“AIS”), by licensed insurers (the “Circular [...]