Another issue is "AI based underwriting" which is not allowed in California and other states unless the Department of Insurance of that state has a chance to review your algorithms. (And even then, I wouldn't bet on it.)
California in particular requires full upfront public disclosure of all underwriting rules.[0] (What you can do, is gather data for risk optimization, and use that to inform your underwriting rules when they get periodically updated and filed, but insurance companies more or less do that now.)
Another issue is "AI based underwriting" which is not allowed in California and other states unless the Department of Insurance of that state has a chance to review your algorithms. (And even then, I wouldn't bet on it.)
California in particular requires full upfront public disclosure of all underwriting rules.[0] (What you can do, is gather data for risk optimization, and use that to inform your underwriting rules when they get periodically updated and filed, but insurance companies more or less do that now.)
[0] https://www.faegredrinker.com/en/insights/publications/2018/...