CertAI will assess the use of artificial intelligence for the insurance risks of tomorrow

Munich Re has launched its CertAI validation service, enhancing acceptance of artificial intelligence (AI) and paving the way for the responsible use of AI applications.

CertAI validates fully fledged AI systems or AI solutions already in productive use. It analyses these solutions on the basis of six different factors – fairness, autonomy and control, transparency, robustness, functional and cyber security, and data protection.

For this purpose, Munich Re has pooled its risk expertise in the area of traditional industrial insurance and new technologies with the experience of the Swiss certification company CertX.

Jens Henkner, managing director of CertX, says: “Going forward, I am certain that we will be able to explore more global business ideas together that combine certification and insurance.”

Solution for Industry 4.0

Fabian Winter, Munich Re’s chief data officer: “CertAI is a service that will give Munich Re yet another opportunity to contribute its qualified risk perspective to a forward-looking technology at the earliest possible stage and on the broadest scale.

”CertAI will enable us to address the significantly expanding coverage needs of AI solution providers in the market. At the same time, it will help us to hone our analytical skills in assessing the use of artificial intelligence for the insurance risks of tomorrow.”

Fraunhofer Institute for Intelligent Analysis and Information Systems is a further key collaboration partner. It is one of the leading research organisations in the fields of artificial intelligence, machine learning and big data in Germany and Europe, and is a pioneer in the development of AI certification systems.

It drafted one of the first sets of AI guidelines enabling companies to operationalise requirements with regard to the trustworthiness of intelligent systems for the development of individualised AI applications.

The increasing implementation of AI in business – for instance as part of Industry 4.0 and autonomous driving – is giving rise to many new risk areas and client requirements that need to be identified, analysed, understood and evaluated.

Trustworthy artificial intelligence to be a strategic growth area offering attractive business opportunities, particularly since the AI risks arising from future technologies such as quantum computing are set to become more important over time.