The Chartered Insurance Institute (CII) has backed a report that argues the insurance sector must engage with the public to reach a consensus on what constitutes the responsible use of artificial intelligence (AI) and data.
The Centre for Data Ethics and Innovation paper, AI and Personal Insurance, discussed the potential use of AI across the insurance profession and how it should be used. It suggested the sector should engage with the public to reach an agreement on what constitutes a responsible use of AI. For example, the paper advised considering under what conditions it is acceptable to process data from social media platforms or use algorithms to predict people's willingness to pay higher premiums. The CII said the insurance profession was encouraged to consider if tighter controls should be put...
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