Regulators Look at Potential Bias in Life-Insurance Algorithms
March 14, 2023 by Leslie Scism
State regulators are pushing back on U.S. life insurers’ use of data science to speed up cumbersome application processes, citing concerns that artificial intelligence could unfairly discriminate against minorities.
Colorado’s Division of Insurance has begun crafting regulations under a new state law restricting insurers’ use of algorithms, predictive models and the information fed into them in a far-reaching effort closely watched by the industry.
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Originally Posted at The Wall Street Journal on March 8, 2023 by Leslie Scism.
Categories: Industry Articles