General
Insurance practice
Insurance activities covered by the statute.
Definition
Designated insurer activities to which the statute and implementing rules apply, specifically including marketing, underwriting, pricing, utilization management, reimbursement methodologies, and claims management. The definition frames the operational contexts in which algorithms, predictive models, and ECDIS are regulated.
Related Terms
Predictive model
A model that predicts outcomes for insurance decisions....
Algorithms and Predictive Models
Systems that utilize external consumer data and information sources to inform various insurance practices....
Regulated activities
Specific AI lifecycle activities subject to regulation....
External consumer data and information source (ECDIS)
Third-party consumer data sources used in insurance models....
Unfair Trade Practices
Deceptive or unethical business acts in insurance, including those enabled by AI systems....