Will 2024 Be the Year That AI Breaches the Insurance Market?

This article discusses the potential impact of artificial intelligence (AI) on the insurance market. While laws exist to protect policyholders from discrimination, few states have specific laws addressing AI. Colorado has passed a law prohibiting insurers from using algorithms or predictive models to discriminate based on various protected characteristics. Other states, such as Pennsylvania and New York, have also introduced similar laws. The National Association of Insurance Commissioners (NAIC) is expected to play a role in shaping regulations surrounding the use of AI in insurance. [Extracted from the article]