Insurance is an industry built on trust. Policyholders trust insurers to look after them when adverse events occur. Likewise, insurers increasingly need to trust their AI, especially with automation and AI becoming vital to insurers in this turbulent world.
Of course, it’s not as easy as merely rubber-stamping the numbers. When issuing a policy, insurers look at many aspects of the person or thing they’re going to insure, prudently managing the risks they choose to accept. Similarly, insurers must look at AI from various perspectives to understand the value it adds, manage the risks, and use AI to make the most informed decisions.