Description

This seminar will consider Artificial Intelligence (AI) and insurance from two different angles. The first part will focus on autonomous systems and the role of insurance in trustworthy operation of such systems. In this respect some of the relevant issues are: “What is Artificial Intelligence (AI)”? “What is autonomy (self-learning) and the ‘black box’ problem and how can the technology specific risks be translated into the current legal concepts”? “Is liability for AI a product liability problem”? “Is strict but limited liability a solution”? “If autonomous systems cannot operate without insurance, will insurers insure strict liability”?

The second part of this seminar investigates how insurers themselves benefit from AI and some possible dangers faced with such practices. Without a precise legal definition, InsurTechs operate almost all over the World. The European Insurance and Occupational Pensions Authority (EIOPA) in 2018 identified a total of 779 regulated InsurTech firms active in 31 European countries. The ways that InsurTechs disrupt the insurance sector varies greatly. By way of example, some are Robo-, or digital- brokers which offer a comparison platform and claim management solutions through mobile apps and chatbots. Others profile driver behaviour and generate driver score. Others still are fully digital insurers that bring risk-based pricing for retail covers such as motor and health insurance. Some target rural population and farmers through a product named “parametric insurance”. “What is the true nature of the products offered by InsurTechs”? “Are they ‘insurance’ products in the traditional sense of insurance”? “Are InsurTechs transparent especially with regards to the collection and procession of the data in their operation”? “Is the way insurers use AI likely to have the frog in the hot water effect so far as the insured persons are concerned”?

About The Speaker

Dr Özlem Gürses teaches Insurance and Reinsurance Law at King’s College London (KCL). Prior to joining KCL Ozlem worked at Norwich and Southampton Law Schools. Özlem completed undergraduate and postgraduate degrees in law from the University of Istanbul, later studying Maritime Law at the University of Southampton where she also pursued her PhD in reinsurance law. She is the sole author of The Law of Compulsory Motor Vehicle Insurance (Informa, 2019), Marine Insurance Law 2 nd ed (Routledge, 2016) and Reinsuring Clauses (Informa, 2010). She has published a number of book chapters and articles on insurance, marine insurance, and reinsurance law. Özlem is a member of the British Insurance Law Association Committee, sits on the Presidential Council of International Insurance Law Association (AIDA), and is the Vice-chair of the Reinsurance Working Party of AIDA.

Who Should Attend

Lawyers, in-house counsel, and legal officers and claims handlers working in the maritime, insurance and reinsurance industry, and P & I Clubs.