I’m always encouraged when I see insurance regulators actively seeking consumer perspectives. The Colorado Division of Insurance has taken an impressive step forward with its stakeholder engagement process by initiating the Consumer Insurance Council (CIC). The Colorado approach is particularly noteworthy because it appears to actively call for diverse voices of regular folk to work collaboratively on protecting consumers and hearing policyholder concerns about insurance issues.
The application to be a member states:
The Consumer Insurance Council (CIC) provides a consumer’s perspective on regulations and initiatives developed by the Division of Insurance. It acts in an advisory capacity to the Commissioner and Division of Insurance, and is a forum to discuss and share information, concerns, questions and criticisms on insurance issues facing Colorado consumers.
Council members should be consumers who are interested in insurance issues and may represent grassroots organizations, although it is not required.
The council must have at least six members, but not more than 15, and it should strive to represent Colorado’s demographic and geographic diversity. We encourage bilingual applicants to apply – particularly those in which English is their second language.
Insurance producers (agents or brokers), insurance industry representatives and actively practicing health care providers are NOT eligible to sit on the council.
The CIC is required to meet quarterly (but may meet up to eight times a year). Meetings are virtual and are conducted during normal business hours. Council members are not paid for their service, although members can be reimbursed for necessary expenses for traveling to and from meetings, if necessary.
If you would like to be considered for membership on the Council, please complete and submit the following application.
While Florida has the Insurance Consumer Advocate’s office, which is supposed to provide valuable consumer protection services and be the voice of the consumer in regulatory matters, Colorado’s model of structured stakeholder engagement offers additional benefits. Their process ensures consumer perspectives are considered during the development of regulations, not just after problems arise.
At the federal level, we’ve seen success with consumer advisory boards through programs like the Consumer Operated and Oriented Plan (CO-OP), which maintains a 15-member advisory board making recommendations on health insurance matters. These initiatives demonstrate how formal consumer input can improve insurance regulation and market practices.
The key advantage of Colorado’s approach is its proactive nature. Rather than waiting for consumer complaints or problems to surface, they’re engaging stakeholders early in the process to prevent unfair practices before they impact consumers.
For those of us representing policyholders, these kinds of formal consumer input mechanisms are invaluable. They provide an organized channel for sharing real-world experiences and concerns with regulators who can implement change. They also create transparency and accountability in the regulatory process.
I’d love to see more states adopt similar models of structured stakeholder and citizen engagement. While many insurance departments do seek public comment on proposed regulations, having a formal process that brings consumer voices to the table during the development stage is far more effective.
The insurance industry is becoming increasingly complex, with new technologies and data analytics reshaping everything from underwriting to claims handling. Now more than ever, we need strong consumer voices in the regulatory process to ensure fairness and protect policyholder rights. Colorado’s fresh approach shows how one insurance commissioner’s office is seeking to better understand consumer concerns directly.
Thought For The Day
It’s important to recognize that customer engagement in insurance goes beyond just communication frequency. It’s about delivering value at every touchpoint and making customers feel supported and understood.
—Sebastian Gruber
