OK| The Oklahoma Insurance Department issued Bulletin 2024-11 to remind all Insurers that hold certificates of authority to do business in the state that decisions or actions impacting consumers that are made or supported by advanced analytical and computational technologies, such as Artificial Intelligence (AI), must comply with all applicable insurance laws and regulations.
This Bulletin lists the Department’s expectations as to how insurers will govern the development/acquisition and use of certain AI technologies. Below are areas covered, including the terms and definitions, and the AI Systems Program Guidelines:
- Introduction, Background, and Legislative Authority
- Definitions
- Regulatory Guidance and Expectations
- Regulatory Oversight and Examination Considerations