Today’s world – and as a result, the insurance industry – continues to evolve at a staggering pace, driven by new technologies to deliver services, advances in the use of data, and demand for coverage in brand new areas. The regulatory environment must keep up.
The Ohio Department of Insurance, through the Emerging Products and Innovation Initiative, ensures that our regulatory framework is flexible enough to allow insurers to innovate and provide the best service possible to their customers, all while providing the highest-level consumer protections for Ohioans.
How It Works
Ohio is a leader in both the insurance industry and in promoting innovation through regulatory reform. Business-friendly initiatives like InnovateOhio and the Common Sense Initiative foster an environment where existing companies can create new opportunities to grow, and startups can experiment and thrive.
The Emerging Products and Innovation Initiative will work with your company to help navigate the regulatory processes while ensuring that consumers are protected. We help you accomplish your goals by getting involved early in the process, establishing a dialogue, and collaborating with you to determine the best path forward.
The Emerging Products and Innovation initiative is focused on four guiding principles. We are here to:
- Ensure the highest level consumer protections
- Benefit consumers with robust competition, lower costs and choice
- Keep pace with innovation, a changing marketplace and consumer expectations
- Collaborate with existing insurance companies, entrepreneurs and the industry
Emerging Products Contact
If you are a startup looking to operate in the insurance industry or an existing insurer exploring innovative new products, the Ohio Department of Insurance is here to help. We are willing to discuss your ideas and questions on your timeline, including before you would need to file products with the department. And while we cannot offer legal advice, we can help you understand Ohio’s regulatory requirements and navigate all necessary processes to ensure that your ideas can get to market as soon as responsibly possible.
Contact us with any questions or to start utilizing the department’s emerging products initiative.
Ohio Department of Insurance
50 West Town Street, Suite 300
Columbus, OH 43215
Email - EmergingProducts@insurance.ohio.gov