In L&A, AI bias can manifest in various ways, leading to unfair treatment or outcomes for policyholders, applicants, and beneficiaries.
Ensuring diverse and unbiased training data is crucial to prevent discrimination and unequal treatment.
Addressing AI bias requires a comprehensive approach that harmonizes people, processes, and technology, where each facet is vital.
As society continues to explore and understand the potential of the latest AI innovations that have become mainstream, such as ChatGPT, Gamma, and others, we are also discovering their limitations and risks. Life and Annuities (L&A) insurers in particular stand to gain numerous advantages from AI implementation, but it’s critical for them to understand and pinpoint their potential risks and carefully manage them.
Read the whitepaper to understand how L&A insurers can use AI while taking measured steps to keep it bias-free.
Download here: sapiens.com