The British Insurance Brokers’ Association and Markel have published a new guide to help members better understand how to deploy artificial intelligence.
Written by practitioners with experience of using AI in insurance, the guide outlines practical applications of the technology, and touches on legal, regulatory and compliance considerations.
Contributions came from Markel, Gallagher Re, PIB, FullCircl, Romero, CFC and Cyxcel, with real-life examples of how brokers are already using AI.
BIBA CEO Graeme Trudgill said: “AI and its adoption, is moving fast. In a world where technology can be transformative, we wanted to help members grasp the opportunities and the risks it presents. Certainly, the AI genie is out of the bottle, so our aim is to help brokers navigate the new era of AI safely and within regulatory requirements.”
Marke's Jo Sykes added: “Markel is proud to support BIBA in producing this guide to AI. It is an invaluable tool for brokers looking to manage how their business interacts and utilises artificial intelligence. With practical insights and expert advice throughout, the guide will help BIBA members take advantage of AI technology effectively and ethically. In this new era, information and support such as this will allow the insurance sector to embrace innovation and drive our industry forward for the benefit of customers."
The guide is available to BIBA members via the association’s website.
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