Three digital technology providers announced the launch of the Ethical AI in Insurance Consortium as a means to help guide the insurance industry toward a responsible and ethical future using AI.

Cloverleaf Analytics, an insurance technology provider; Exavalu, a digital transformation advisor; and Socotra, an integration platform provider, launched the new consortium to address challenges and opportunities associated with utilizing AI in insurance, including algorithmic bias, customer acceptance, data integrity, selling, servicing and customer support for insurance products.

Its aim is to foster responsible and transparent adoption of artificial intelligence (AI) for decision management in the insurance sector, bringing together insurance carriers, technology and solutions companies, regulators, and others involved in the industry.

Full article here – https://www.carriermanagement.com/news/2023/07/31/251387.htm