CAS & SOA Release Paper on Regulatory Frameworks for Non-Discriminatory AI in Insurance

The Casualty Actuarial Society (CAS), in collaboration with the Society of Actuaries, is pleased to announce the publication of a new research paper titled "Comparison of Regulatory Framework for Non-Discriminatory AI Usage in Insurance." This insightful report 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.

The paper is one of six to be released this year as Phase 2 of the CAS Research Paper Series on Race and Insurance Pricing. The first phase of the series was released in 2022 with the intent to guide the insurance industry toward proactive, quantitative solutions to address potential racial bias in insurance pricing. The series reflects the CAS’s ongoing commitment to inform our members of emerging industry developments, such as bias, unfair discrimination, and insurance pricing, that may significantly impact how actuaries practice.

We invite CAS members and the broader actuarial community to read this latest paper in anticipation of the full release of Phase 2 of the CAS Research Paper Series on Race and Insurance Pricing (scheduled for late summer). This particular paper holds significant relevance for understanding and navigating the complexities of AI regulation in various global contexts.

For more information, view the paper on our website.