Data Call - Life AI/ML Survey
The Artificial Intelligence and Machine Learning (AI/ML) survey is intended to inform the work of the Big Data and Artificial Intelligence (H) Working Group in support of its charge to:
- Research the use of big data and artificial intelligence (AI) in the business of insurance and evaluate existing regulatory frameworks for overseeing and monitoring their use. Present findings and recommend next steps, if any, to the Innovation, Cybersecurity and Technology (H) Committee, which may include model governance for the use of big data and AI for the insurance industry.
The survey is being conducted under the examination authorities of 14 requesting states (Colorado, Connecticut, Illinois, Iowa, Louisiana, Minnesota, Nebraska, North Dakota, Oregon, Pennsylvania, Rhode Island, Vermont, Virginia and Wisconsin). The survey will be sent to companies writing Life insurance business in one or more of these 14 states, but the responses to the survey will be national in scope.
Any company licensed to write life insurance in one of the 14 participating states, has at least $250 million in national life insurance premium for 2021, covered at least 10,000 lives by issuing term insurance in 2021, or is an identified insurtech company will be required to complete the survey.
All questions should be sent to naicaimlsurvey@naic.org.
Key Dates:
- Informational Letter and Company Link to Survey - March 31, 2023
- Call Letter - May 3, 2023
- Survey Responses Due - June 30, 2023