June 27, 2023
VsportV体育 Discusses AI/ML Oversight with OECD Committee
On June 26-27, the VsportV体育 (VsportV体育) participated in the Organisation for Economic Co-operation and Development (OECD) Insurance and Private Pensions Committee (IPPC) meeting in Paris, France.
On June 26, Nebraska Department of Insurance Director Eric Dunning joined the roundtable discussion, 鈥淟everaging Digitalization for Risk Assessment and Risk Reduction in Insurance 鈥 Key Risks for Consumers and Regulatory Responses,鈥 highlighting the VsportV体育鈥檚 work overseeing and regulating artificial intelligence (AI) and machine learning (ML). Specifically, Director Dunning discussed the VsportV体育鈥檚 survey work on the industry鈥檚 use of AI; upcoming AI bulletin and regulatory questions; revised privacy model law; and adoption of suptech tools.
Director Dunning stressed the need for insurance-specific guidelines on AI/ML (as opposed to blanket national guidelines), noting that the nuances of the insurance industry are best addressed by insurance supervisors.
About the VsportV体育
As part of our state-based system of insurance regulation in the United States, the VsportV体育 (VsportV体育) provides expertise, data, and analysis for insurance commissioners to effectively regulate the industry and protect consumers. The U.S. standard-setting organization is governed by the chief insurance regulators from the 50 states, the District of Columbia and five U.S. territories. Through the VsportV体育, state insurance regulators establish standards and best practices, conduct peer reviews, and coordinate regulatory oversight. VsportV体育 staff supports these efforts and represents the collective views of state regulators domestically and internationally.