In Utmost Good Faith? is a new infographic created by Euromoney Thought Leadership Consulting and commissioned by Baker McKenzie, outlining opportunities and ethical considerations for AI in the Insurance sector. As AI gains ground in the sector, it is critical to understand ethical considerations, which would help market players navigate the potential increase in regulatory scrutiny.
Baker McKenzie panelists use their experience from working with insurance firms to take a closer look at insurtech in Asia (Video)
Insurtech is making the insurance industry more accessible, customer-friendly, and less time-consuming.
The answers is probably ‘yes’ and regulators in Asia Pacific are reacting by setting standards on risk identification, assessment, mitigation and crisis management.
Fintech challenges incumbents in payments and other banking businesses, but hedge funds, credit card companies and insurers have also woken up to the potential of this technology.