Source link : https://news7.asia/technology/insurers-need-to-lead-the-way-in-transparency-around-ai-use/
As artificial intelligence continues to reshape the insurance industry, the onus is increasingly on insurers to clarify how these technologies are utilized within their operations. According to Asia Insurance Review, transparency around AI’s role in underwriting, claims processing, and customer service is becoming a critical expectation from regulators, policyholders, and industry stakeholders alike. This evolving landscape places significant responsibility on insurers to not only harness AI effectively but also to communicate its impact clearly, ensuring trust and accountability in a rapidly digitizing market.
Insurers Must Prioritize Transparency in AI Implementation
As artificial intelligence continues to reshape the insurance landscape, companies must place a clear emphasis on openness to build and maintain customer trust. The use of AI-driven tools in underwriting, claims processing, and customer service often operates behind the scenes, creating a knowledge gap that can lead to skepticism or misunderstanding. Insurers are now urged to articulate not only how AI algorithms function but also the criteria and data sources they utilize to make decisions affecting policyholders.
Key areas where transparency should be prioritized include:
- Data Privacy: Clarifying what personal data is collected and how it is safeguarded.
- Decision-Making Processes: Explaining the logic behind AI determinations, especially in claims approvals or denials.
- Bias Mitigation: Demonstrating…
—-
Author : Mia Garcia
Publish date : 2025-07-31 19:01:00
Copyright for syndicated content belongs to the linked Source.
—-
1 – 2 – 3 – 4 – 5 – 6 – 7 – 8