For those innovators who are seeking engagement with the Division as an insurtech (rather than through the traditional rate and form filing process), the Division recommends preparation of a concept document or other informational documentation to describe the innovation and its application. Information documents could contain the following information, if available:
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A description of the innovation.
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Anticipated benefits, whether for consumers, market competition, insurers, producers, or others in the business of insurance.
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Any anticipated business plan for piloting of the innovation, including if available, estimated time periods for market entry, controls for monitoring the test or pilot, and, if necessary, a time period and consumer protection controls for a market exit.
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Identification of any regulations that may require review or interpretation, including any requests to keep production confidential.
To discuss an innovative product, submit a concept document or for any questions, contact the Iowa Insurance Division at: innovation@iid.iowa.gov or 515-281-4019.