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:
A description of the innovation.
Anticipated benefits, whether for consumers, market competition, insurers, producers, or others in the business of insurance.
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.
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: email@example.com or 515-654-6570.