The Insurance Supervisory Authority (Ivass) he started a fact-finding investigation on applications of learning-based artificial intelligence (machine learning) that companies use in customer relations. This was communicated in a note by the Authority led by Luigi Federico Signorini, explaining that the insurance industry is "increasingly making use of digitization and new technologies to intercept customer needs, for the development of products and services and for their distribution ”.
In detail, the investigation involves 90 Italian companies supervised institutions and the four representations of third countries, which will have to complete a questionnaire by 30 September. The goal is “to understand the use of artificial intelligence algorithms in key processes such as customer profiling – continues Ivass – the determination of the price of the policies, claims management, the use of chatbots for customer assistance and cross-selling”.
In the questionnaire, the Authority explains that "Machine Learning algorithms" represent a "data analysis method that aims to automate the creation of analytical models that learn iteratively, starting from a database. It's about complex algorithms, able to find solutions by learning from input data e based on experience, without the use of mathematical models and predetermined equations".
