Insurance Europe has published a response to the European Commission consultation on proposals for a regulation on the use of artificial intelligence.
Insurance Europe welcomes the overall objective of creating a principles-based framework of requirements and the development of mandatory requirements for high-risk AI systems that pose a risk to health and safety or the fundamental rights of persons. However, Insurance Europe argues that the definition of artificial intelligence used in the draft Regulation significantly widens the OECD definition of artificial intelligence by including software within its scope. This, Insurance Europe believes, will create legal uncertainty. The proposed definition would apply to existing statistical approaches used by insurers as well as task-allocation systems within back-office functions.
Insurers do not need to take action in respect of this response but may be interested in following the policy considerations developing in respect of the proposed AI Regulation.