Insider Intelligence delivers leading-edge research to clients in a variety of forms, including full-length reports and data visualizations to equip you with actionable takeaways for better business decisions.
In-depth analysis, benchmarks and shorter spotlights on digital trends.
Learn More
Interactive projections with 10k+ metrics on market trends, & consumer behavior.
Learn More
Proprietary data and over 3,000 third-party sources about the most important topics.
Learn More
Industry KPIs
Industry benchmarks for the most important KPIs in digital marketing, advertising, retail and ecommerce.
Learn More
Client-only email newsletters with analysis and takeaways from the daily news.
Learn More
Analyst Access Program
Exclusive time with the thought leaders who craft our research.
Learn More

About Insider Intelligence

Our goal at Insider Intelligence is to unlock digital opportunities for our clients with the world’s most trusted forecasts, analysis, and benchmarks. Spanning five core coverage areas and dozens of industries, our research on digital transformation is exhaustive.
Our Story
Learn more about our mission and how Insider Intelligence came to be.
Learn More
Rigorous proprietary data vetting strips biases and produces superior insights.
Learn More
Our People
Take a look into our corporate culture and view our open roles.
Join the Team
Contact Us
Speak to a member of our team to learn more about Insider Intelligence.
Contact Us
See our latest press releases, news articles or download our press kit.
Learn More
Advertising & Sponsorship Opportunities
Reach an engaged audience of decision-makers.
Learn More
Browse our upcoming and past events, recent podcasts, and other featured resources.
Learn More
Tune in to eMarketer's daily, weekly, and monthly podcasts.
Learn More

Colorado passes law to prevent AI-generated discrimination in life insurance

The news: Colorado has pioneered a law that will be effective November 14th of this year, mandating that life insurance companies establish discrimination-curbing protocols for AI use. This legislation precedes similar measures emerging across the US.

What the law says: Colorado’s leading a seismic shift in how AI is regulated within the insurance industry—setting the tone for a growing discussion. 

  • The new law covers a wide range of technology used in life insurance underwriting, including algorithms, predictive models, and data collected online. 
  • It aims to prevent unfair discrimination in the life insurance industry based on race, gender, and protected characteristics.
  • Insurers will be required to share all components of their framework with the Colorado Division of Insurance, which will monitor for compliance with the law.

Is Colorado the first of many? Around the world, fear of the “unknown” has prompted legislators to regulate the use of AI across various industries.

Can AI be discriminatory? AI’s only as good as the data it’s trained on. That means if the data contains bias, AI will snowball it into the results on which its users base their decisions. 

How it impacts the insurance industry: When used responsibly, AI can help insurers process large amounts of data—speeding up and simplifying risk analysis, fraud prevention, and claims processing. However, when used irresponsibly, it can have grave consequences.

  • AI-based bias can lead to disparities in access to insurance products and pricing, disadvantaging certain demographics.
  • Insurance companies could turn away potential customers without reason, costing them business.

What insurers can do to prevent bias from AI: When older programs or data are used to train AI, there’s a risk of incorporating bias.

  • Insurers should shift toward collecting real-time, first-hand customer data, including acquisition information, web behavior, and claims data.
  • Leveraging marketing data allows insurers to phase out questionable historical data, actively correct AI biases, and provide more personalized and equitable insurance solutions.
  • Removing demographic information from old datasets can worsen discrimination—avoid this tactic.

Key takeaways: AI’s not going anywhere, but neither is the fear about its impact on insurance—or our society in general. While Colorado’s the only state to pass AI laws impacting the insurance industry, it’s just a matter of time until other states, and potentially whole countries, follow suit.

Insurers outside of Colorado should get ahead of future regulation—and do their part in combating discrimination—by developing bias-reducing frameworks.