IA| The purpose of Bulletin 24-04 is to remind all Insurers that hold certificates of authority to do business in Iowa that decisions or actions impacting consumers that are made or supported by advanced analytical and computational technologies, including Artificial Intelligence (AI) Systems, must comply with all applicable Iowa insurance laws and regulations.
The Bulletin breaks this information down to six sections:
- Background
- Legislative Authority
- Definitions
- Regulatory Guidance and Expectations for Insurers
- AIS Program Guidelines
- Regulatory Oversight and Examination Considerations