Reports from Swansea University Highlight Recent Findings in Artificial Intelligence (Use of Big Data Analytics and Sensor Technology In Consumer Insurance Context: Legal and Practical Challenges): Artificial Intelligence

NewsRx Policy and Law Daily

2022 JUN 28 (NewsRx) -- By a News Reporter-Staff News Editor at NewsRx Policy and Law Daily -- Investigators discuss new findings in Artificial Intelligence. According to news originating from Swansea, United Kingdom, by NewsRx editors, the research stated, “Insurers are increasingly using big data analytics and artificial intelligence in rating risks and customising insurance products particularly in the context of consumer insurance. The primary aim of this article is to elaborate the extent to which the legal rules in force could ensure that consumers are not treated unfairly as a result of the use of such disruptive technologies.”

Our news journalists obtained a quote from the research from Swansea University, “Relevant insurance law principles and doctrines are also considered as part of this analysis. The article concludes that despite the protection provided to consumers by data and consumer protection legislation, unregulated and unlimited use of data analytics and algorithms in the risk assessment process could create significant difficulties for consumers. It is argued that further regulation, especially making regular audits essential for insurers employing such technologies in risk assessment process, is required.”

According to the news editors, the research concluded: “The article also finds that the use of artificial intelligence in customising insurance products does not present similar degree of difficulties for consumers.”

This research has been peer-reviewed.

For more information on this research see: Use of Big Data Analytics and Sensor Technology In Consumer Insurance Context: Legal and Practical Challenges. The Cambridge Law Journal, 2022;81(1):165-194. The Cambridge Law Journal can be contacted at: Cambridge Univ Press, Edinburgh Bldg, Shaftesbury Rd, CB2 8RU Cambridge, England.

The news correspondents report that additional information may be obtained from B. A. R. I. S. SOYER, Swansea University, Commercial & Maritime Law, Swansea, West Glam, United Kingdom.

The direct object identifier (DOI) for that additional information is: https://doi.org/10.1017/s0008197322000010. This DOI is a link to an online electronic document that is either free or for purchase, and can be your direct source for a journal article and its citation.

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