The Oklahoma Insurance Department posted a bulletin with regulatory guidance for the use of artificial intelligence.
The bulletin outlines expectations regarding the ethical use of AI and reminds carriers that decisions supported by AI systems must comply with all applicable insurance laws and regulations. At a minimum, the department said, carriers need to ensure decisions are not inaccurate, arbitrary, capricious or unfairly discriminatory.
"However, because, in the absence of proper controls, AI has the potential to increase the risk of inaccurate, arbitrary, capricious or ...
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