NAIC Adopts Artificial Intelligence Principles

Members of the National Association of Insurance Commissioners (NAIC) have agreed unanimously to adopt an Artificial Intelligence Guiding Principles. The NAIC's AI Working Group based the document on a set of AI principles developed by the Organisation for Economic Co-operation and Development (OECD). The United States is one of the 42 countries that has adopted the OECD AI principles. The NAIC is a Kansas City, Missouri-based group for the top insurance regulators in the states, the District of Columbia and U.S. territories. At the NAIC, regulators and representatives for consumer groups have said careful oversight of AI-based systems is important, because of concerns that insurers or other entities could use AI systems to hide illegal forms of discrimination, such as race-based discrimination.