In a world where technology is constantly evolving, the insurance industry is quickly following suit. And with new advances comes new challenges for those in charge of regulating the industry. Greg Conlon is a commissioner with the New York State Department of Financial Services (DFS), and he has been diligently working to keep up with the latest changes in the insurance world. In this blog post, we discuss some of his insights on how technology is shaping insurance regulation and what businesses need to do to stay ahead of the curve.
Background
Greg Conlon is the insurance commissioner for Rhode Island. He was elected to office in November of 2016 and will serve until 2020. Prior to this position, he worked as a corporate lawyer and served as the assistant general counsel for AIG Insurance Company.
Conlon is a Democrat and has been actively involved in politics since he was young. He first ran for public office in 2006 when he unsuccessfully sought election to the Rhode Island State Senate. Two years later, he won his first race for state representative, and he has been re-elected every two years since then. In 2012, Conlon was elected to the Rhode Island House of Representatives, where he served until his election as insurance commissioner in 2016.
One of Conlon’s main priorities as insurance commissioner is to improve the quality of life for residents of Rhode Island. He believes that by working together we can make significant improvements across many areas of our state’s economy. Commissioner Conlon also recognizes the importance of relying on sound policymaking when it comes to insurance regulation. As such, he has made it a priority to foster open dialogue with all stakeholders in order to develop effective solutions that benefit everyone involved.
Key Achievements
In his first year as insurance commissioner, Greg Conlon made a number of key achievements. He created an online portal that makes it easier for consumers to find the right policy and he increased transparency in the industry by releasing reviews of top insurance companies.
Greg also championed reform of New York’s auto-insurance system, which will make rates more affordable for drivers and help state coffers by reducing costs associated with crashes.
Vision for the Future
As Insurance Commissioner for the State of New York, I am committed to working with both industry and government partners to create a vision for the future of insurance in our state. Our goal is to provide consumers with quality products and services while protecting taxpayers’ dollars. Here are some key pieces of our vision:
1. Insurers should be transparent about their prices and how they set them.
2. Taxpayers should be protected from excessive executive pay and other wasteful spending.
3. We should continue to work together with industry on innovative solutions to reduce the cost of insurance for consumers.
4. We must make it easier for people to get affordable coverage through health care exchanges or through private health plans offered by employers.
Conclusion
Greg Conlon was sworn in as the insurance commissioner for New York on December 3, 2017. He is a Democrat and replaces Robert F. Kennedy Jr., who resigned to run for US Congress. Conlon has been an attorney and partner at the law firm Rose Law Firm since 2002.