Responsible use of AI in the insurance industry requires actuarial expertise

Artificial intelligence (AI) is fundamentally transforming processes and working methods in the insurance industry. Rapid technological advances are opening up more and more possibilities, but they also place high demands on responsible and technically sound implementation. At its annual digital press conference held today, the German Association of Actuaries (DAV) presented the various applications of AI in the insurance industry, regulatory requirements, and the central role actuaries play in dealing with AI.