How AI is Changing the Risk Landscape for ReInsurers

AI will be a quantum leap for reinsurers, redefining the concepts of risks that have always been part of the reinsurance industry. FERMONT, CA: Artificial Intelligence (AI) has been rolling out at a remarkable pace in the insurance and reinsurance industry. This growth occurs at the intersection of three major technological trends, such as the rise of big data, the normalization of human-machine interconnection, and advancements in machine learning. However, the growing use of AI raises numerous risks. For example, in an accident caused by an autonomous vehicle, who is responsible for the algorithm behind the software–the user, the manufacturer, or the creator?