News & Analysis as of

Underwriting Data Use Policies

Hinshaw & Culbertson - Privacy, Cyber & AI...

NYSDFS Issues Final Circular for Insurers on Artificial Intelligence and External Data Use

On July 11, 2024, the New York State Department of Financial Services (NYSDFS) adopted a final circular about the "Use of Artificial Intelligence ("AI") Systems and External Consumer Data and Information Sources in Insurance...more

Goodwin

Blocking & Tackling – Contracting for Insurtechs

Goodwin on

This is the first in a series of articles in which Goodwin will explore some of the key issues when contracting in the insurtech space. The insurance industry is undergoing substantial innovation, as companies develop new...more

Womble Bond Dickinson

Insuretech and Beyond – An Evolving Litigation Landscape Association of Life Insurance Counsel Annual Meeting May 2019

Womble Bond Dickinson on

In recent years, the life insurance industry has greatly enhanced the speed and efficiency of its underwriting decisions. This change in the underwriting process is due in large part to the use of new technology in data...more

Akin Gump Strauss Hauer & Feld LLP

DFS Issues Guidance to Life Insurers on Use of “External Data” in Underwriting Decisions

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

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