The Division will host a stakeholder meeting regarding Unfair Discrimination in Insurance Practices, pursuant to Senate Bill (SB) 21-169, on February 7, 2023, from 10:00 - 11:00 am MT. The law, enacted in 2021, holds insurers accountable for testing their big data systems - including external consumer data and information sources, algorithms, and predictive models - to ensure they are not unfairly discriminating against consumers on the basis of a protected class. It also directs the Insurance Commissioner to hold stakeholder meetings to address specific types of insurance (i.e., life, auto, health), as well as specific insurance practices (i.e., marketing, underwriting, claims management) before adopting rules on how the companies should test and demonstrate to the Division that their use of big data is not unfairly discriminating against consumers.
Earlier this year, the Division announced underwriting practices in life insurance as the initial area of focus. Interested stakeholders can register for the upcoming meeting focused on life insurance underwriting practices by clicking on the following button:
Register for the Feb 7 Meeting
All interested stakeholders - including insurance companies, insurance agents/producers, consumer representatives, and other interested parties - are invited to participate. Materials for all meetings (past and upcoming) will be available on the Division's SB21-169 - Protecting Consumers from Unfair Discrimination in Insurance Practices webpage. A meeting agenda for February 7 will be posted in advance of the meeting.
Find more information about SB21-169, the stakeholder process, and unfair discrimination in insurance practices on the Division’s SB21-169 - Protecting Consumers from Unfair Discrimination in Insurance Practices webpage.
To receive email notifications regarding the Division's activities related to Unfair Discrimination in Life Insurance, and the overall implementation of SB21-169, please sign up on the Division's Sign-Up for Division of Insurance Email Lists webpage. For notices specific to SB21-169, click on the "Subscribe to DOI/DORA Email Lists via GovDelivery" button, and select the checkbox next to "External Consumer Data and Unfair Discrimination in Insurance Practices" list.