Uncertainty reigns for US insurers as industry adopts AI standards


Insurers and rating and advisory organisations 'should be responsible for the creation, implementation and impacts of any AI system, even if the impacts are unintended’, the NAIC’s Innovation and Technology Task Force, part of its Executive Committee, wrote. — GERD ALTMANN/Pixabay

As the US insurance industry increasingly relies on artificial intelligence, its state-based regulators are thinking about how to ensure that the technology treats policyholders fairly.

The US National Association of Insurance Commissioners last month unanimously adopted guiding principles that AI be fair, ethical, accountable and safe. But these are largely broad-brush notions for a technology that is just starting to be used.

Limited time offer:
Just RM5 per month.

Monthly Plan

RM13.90/month
RM5/month

Billed as RM5/month for the 1st 6 months then RM13.90 thereafters.

Annual Plan

RM12.33/month

Billed as RM148.00/year

1 month

Free Trial

For new subscribers only


Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!

algorithms , sexism , racism

   

Next In Tech News

Cryptoverse: Miners trudge through post-halving world
Riot Platforms proposes to buy crypto miner Bitfarms, becomes largest shareholder
T-Mobile to buy US Cellular's wireless operations in $4.4 billion deal
Meme stock GameStop jumps after raising $933 million in share sales
EU monitoring new measures by Meta to tackle election disinformation
Klarna using GenAI to cut marketing costs by $10 million annually
OpenAI sets up safety committee as it starts training new model
Google, Amazon, Apple lobby group opposes India's EU-like antitrust proposal
A tiny Mediterranean island wants a�piece of the global AI frenzy
UN hails RM22.53bil in new pledges to boost global connectivity

Others Also Read