Asase presents the 11th episode of its podcast: “AI for Underwriting Agencies: Opportunities and Regulatory Risks” with Virginia Martinez and Joaquín Muñoz from Bird & Bird.
The Association of Spanish Underwriting Agencies (ASASE) launches its eleventh episode of its podcast, this time focused on a highly topical subject: artificial intelligence and how to apply it in an underwriting agency.
To address this issue as accurately as possible, the episode features the participation of two true professionals, Virginia Martinez Fernandez, Bird & Bird partner specializing in the Insurance and Reinsurance area and Joaquín Muñoz, Bird & Bird partner specializing in the firm’s privacy and data protection, who recently gave a successful webinar for ASASE partners on the use of AI in underwriting agencies, which is now transformed into this interesting podcast episode.
During the conversation, Virginia and Joaquín explain what artificial intelligence is, how it has evolved and what its main applications are in the day-to-day life of underwriting agencies: from risk assessment and more accurate premium setting, to process automation and improved customer experience through chatbots and virtual assistants.
The episode also addresses the legal challenges and risks associated with the use of these tools: the applicable regulations beyond the Artificial Intelligence Regulation, the challenges in data protection, intellectual property, regulatory compliance and the possible biases that can arise in AI models if they are not properly monitored.
Through practical examples and real cases, this episode offers a complete and didactic view of how AI is transforming the insurance industry, what advantages it offers and what precautions should be taken to implement it safely and efficiently.
