British Insurers Urge Ethical Use Of Machine Learning
Law360, London (February 11, 2020, 2:03 PM GMT) -- A group of British insurers has warned the industry that it must establish clear ethical rules over its use of artificial intelligence and machine learning to help protect consumers from potential harm.
The Association of British Insurers urged financial services companies — and regulators — on Monday to draw up new rules to reflect the increasing use of AI and machine learning in insurance products.
“Big data and artificial intelligence promises a huge leap forward for insurers, making better decisions faster and with greater accuracy,” the ABI said. “At the same time, firms, the authorities and the public are becoming increasingly aware...
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