THE SOLUTION FOR AI TRUST & REGULATORY COMPLIANCE
Compliance with upcoming AI insurance regulations should not slow down your AI innovation. Trustible™ simplifies the complex emerging insurance AI regulatory landscape, from Colorado’s Life Insurance ECDIS AI Regulation to the NIST AI Risk Management Framework.
Product Overview
Whether you’re leveraging AI for claims or underwriting, building AI enabled algorithmic models, or deploying third-party AI systems - Trustible’s AI Governance software platform helps you surface AI risks, comply with increasingly complex AI regulatory requirements, and build trust in your AI systems.
AI Inventory
Identify systems affected by AI regulations and centralize compliance documents
Risk Management
Evaluate AI risks, build mitigations, and expedite reviews from stakeholders
Compliance Checks
Keep up-to-date on compliance requirements and assess organizational readiness
Key Benefits
Stay Ahead of Regulatory Curves
Ensure your AI projects are compliant and future-proof with emerging AI regulations.
Manage Potential AI Risks & Harms
Proactively identify and mitigate AI risks across privacy, cybersecurity, bias, and more.
Build Trust with Stakeholders
Provide transparency and visibility into your AI development and management processes.
Simplify Compliance Reporting
Generate documentation to prove your responsible practices ahead of AI audits & assessments.
Colorado Life Insurance: AI Regulation
10-1-1: Governance and RMF Requirements for ECDIS, Algorithms, and Predictive Models
Life insurance providers active in Colorado and any vendors or subcontractors are impacted. Other insurance types like car and property are under review but will likely be impacted soon.
To prevent algorithmic discrimination in insurance, providers must adopt set risk management requirements and submit annual reports on the results of technical testing and overall compliance.
Predictive models, algorithms, risk scores, and any other use of external consumer data and information sources (ECDIS) like credit score, location, purchasing habits, or occupation are in scope.
The regulation went into effect on November 14, 2023 with the first required report due by June 2024.
Start Adopting the Regulation Now
Create AI Risk Management Policies
Appropriate AI Governance policies on AI development lifecycle, management oversight, vendor, and risk mitigation practices
Inventory Details about AI Use Cases
Up-to-date log of all in-use ECDIS, algorithms, and predictive models and the results of testing to detect unfair discrimination
Submit Compliance and Testing Reports
Narrative report submitted to the Dept. of Insurance describing adherence to requirements, or attesting to no use of ECDIS