Like each of us, insurance regulators throughout the United States are dealing with the COVID-19 pandemic. Like the broader insurance industry, insurtech companies are striving to ensure continued operations, and insurance...more
On January 18, 2019, New York’s Department of Financial Services (DFS) issued Circular Letter No. 1 (2019) to advise life insurers regarding the type of data that they may use when underwriting policies. The guidance was...more
1/30/2019
/ Algorithms ,
Anti-Discrimination Policies ,
Data Collection ,
Data Use Policies ,
Department of Financial Services ,
Disclosure Requirements ,
Disparate Impact ,
Insurance Industry ,
Insuretech Sector ,
Life Insurance ,
New Guidance ,
Protected Class ,
Startups ,
Transparency ,
Underwriting
• Recent shifts in insurance regulation are driven by consumer demand.
• Traps for the unwary mean that insurtech startups should engage with regulators early and often.
• Brokers need to know how to navigate the...more
The emerging insurance tech (“insurtech”) industry is growing at breakneck speed. While in 2011 insurtech startups received $140 million in funding from 28 total deals, investment increased more than tenfold in 2016, with...more