Promoting Responsible Artifical Intelligence in Insurance

The use of artificial intelligence (AI) in insurance can bring economic and societal benefits by lowering insurance costs and helping insure more people. The Geneva Association analysed a selection of the many ethics guidelines issued by governmental and non-governmental organisations and private companies. Of the five core principles for the responsible use of AI identified, this report takes a close look at two—1) transparency and explainability and 2) fairness—that are particularly complex for insurers to interpret and implement.

Investing in climate-resilient decarbonised infrastructure to meet socio-economic and climate change goals

Infrastructure resilience is critical for countries to be able to cope with the effects of climate change, but sufficient investment is required. This research brief urges coordination among insurers as risk managers and investors, governments and other stakeholders in tackling the global infrastructure challenge.

Technology is delivering convenience to insurance purchasers | Peter Schaefer, CEO, Hannover Re Life U.S.

Life insurers are constantly devising ways to update their products and customer interface to reflect what customers want.

Peter Schaefer, CEO Hannover Re Life U.S., spoke to The Geneva Association at its 2019 Global Ageing Conference about the potential for technology to help life insurers reach more segments of the population and how far technology could go to transform the industry.

 

Ronald Klein: Thank you for speaking with us here at the 16th Global Ageing Conference, hosted by RGA.

How the opioid crisis is impacting longevity trends | Dale Hall, Society of Actuaries

The Geneva Association’s Global Ageing Conference is held against the backdrop of increasing proportions of old-age populations around the world. Yet, in the U.S. at least, overall life expectancy is declining, largely due to mortality linked to opioid abuse.

Dale Hall, Managing Director of Research, Society of Actuaries, gave us a break-down on the relationship between mortality and longevity rates.

 

Building a purpose-driven business through pension-risk transfer | Amy Kessler, Prudential Retirement

Employer-funded pensions, known as defined-benefit pension plans, have long been on the decline. By taking on employer pension liabilities through pension-risk transfer, insurers are bringing value to companies and individuals and realizing important growth opportunities for their businesses.

Kai-Uwe Schanz Appointed Deputy Managing Director of The Geneva Association

ZURICH, 18 November 2019 – The Geneva Association, the global organisation of insurance and reinsurance Chief Executive Officers (CEOs) and leading think tank of the insurance industry, is announcing the appointment of Kai-Uwe Schanz as Deputy Managing Director and Head of Research & Foresight, effective 18 November 2019.

Usage-based underwriting is much more accurate | Curtis Scott, Vice President, Global Risk, Lyft

How do insurers approach underwriting in the sharing economy space? Curtis Scott, Vice President, Global Risk at Lyft, spoke with Geneva Association collaborating expert, Ronnie Klein, about the benefits for customers, insurers and platforms alike with individualised pricing.

New Geneva Association and IFTRIP task force to address emerging cyber terror risks

The Geneva Association is lauching a joint task force on cyber terrorism and cyber warfare with the International Forum of Terrorism Risk Reinsurance and Insurance Pools (IFTRIP). The special-purpose task force aims to conduct research on cyber terrorism risks across the re/insurance industry. Its initial findings will be published in mid-2020.

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