Comparison of Regulatory Framework for Non-Discriminatory AI Usage in Insurance

Abstract

This joint report from the CAS and Society of Actuaries offers a comprehensive overview of the latest and emerging regulatory activities in China, the U.S., Canada, and Europe, focusing on the prevention of discriminatory practices in the use of artificial intelligence (AI) within the insurance industry. It has a particular relevance to our international audiences.

Please note: we recommend CAS members and the broader actuarial community read this joint paper in anticipation of the full release of Phase 2 of the CAS Research Paper Series on Race and Insurance Pricing.

Volume
II
Issue
4
Year
2024
Keywords
Bias, Model Governance, Algorithmic Bias
Description
This joint report from the CAS and Society of Actuaries offers a comprehensive overview of the latest and emerging regulatory activities in China, the U.S., Canada, and Europe, focusing on the prevention of discriminatory practices in the use of artificial intelligence (AI) within the insurance industry. It has a particular relevance to our international audiences.

Please note: we recommend CAS members and the broader actuarial community read this joint paper in anticipation of the full release of Phase 2 of the CAS Research Paper Series on Race and Insurance Pricing.
Categories
Artificial Intelligence
Homeowners
Personal
Rate Regulation
Ratemaking
Ratemaking Considerations
Risk Pricing and Risk Evaluation Models
Publications
Research Paper Series on Race and Insurance Pricing
Authors
Mark A. Sayre
David Schraub
Jing Lang
Zhibin Zhang
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