Adversarial Artificial Intelligence in Insurance: From an Example to Some Potential Remedies
Artificial intelligence (AI) is a tool that financial intermediaries and insurance companies use or are willing to use in almost all their activities. AI can have a positive impact on almost all aspects of the insurance value chain: pricing, underwriting, marketing, claims management, and after-sale...
| Main Authors: | , , , |
|---|---|
| Format: | Article |
| Language: | English |
| Published: |
MDPI AG
2023-01-01
|
| Series: | Risks |
| Subjects: | |
| Online Access: | https://www.mdpi.com/2227-9091/11/1/20 |
| _version_ | 1797437376837976064 |
|---|---|
| author | Behnaz Amerirad Matteo Cattaneo Ron S. Kenett Elisa Luciano |
| author_facet | Behnaz Amerirad Matteo Cattaneo Ron S. Kenett Elisa Luciano |
| author_sort | Behnaz Amerirad |
| collection | DOAJ |
| description | Artificial intelligence (AI) is a tool that financial intermediaries and insurance companies use or are willing to use in almost all their activities. AI can have a positive impact on almost all aspects of the insurance value chain: pricing, underwriting, marketing, claims management, and after-sales services. While it is very important and useful, AI is not free of risks, including those related to its robustness against so-called adversarial attacks, which are conducted by external entities to misguide and defraud the AI algorithms. The paper is designed to review adversarial AI and to discuss its implications for the insurance sector. We give a taxonomy of adversarial attacks and present an original, fully fledged example of claims falsification in health insurance, as well as some remedies which are consistent with the current regulatory framework. |
| first_indexed | 2024-03-09T11:19:19Z |
| format | Article |
| id | doaj.art-8d54d5a7a66f4c7c98957bc7573d7f85 |
| institution | Directory Open Access Journal |
| issn | 2227-9091 |
| language | English |
| last_indexed | 2024-03-09T11:19:19Z |
| publishDate | 2023-01-01 |
| publisher | MDPI AG |
| record_format | Article |
| series | Risks |
| spelling | doaj.art-8d54d5a7a66f4c7c98957bc7573d7f852023-12-01T00:23:35ZengMDPI AGRisks2227-90912023-01-011112010.3390/risks11010020Adversarial Artificial Intelligence in Insurance: From an Example to Some Potential RemediesBehnaz Amerirad0Matteo Cattaneo1Ron S. Kenett2Elisa Luciano3Desautels Faculty of Management, McGill University, Montréal, QC H3A 1G5, CanadaReale Group, 10122 Torino, ItalySamuel Neaman Institute, Technion City, Haifa 32000, IsraelReale Group, 10122 Torino, ItalyArtificial intelligence (AI) is a tool that financial intermediaries and insurance companies use or are willing to use in almost all their activities. AI can have a positive impact on almost all aspects of the insurance value chain: pricing, underwriting, marketing, claims management, and after-sales services. While it is very important and useful, AI is not free of risks, including those related to its robustness against so-called adversarial attacks, which are conducted by external entities to misguide and defraud the AI algorithms. The paper is designed to review adversarial AI and to discuss its implications for the insurance sector. We give a taxonomy of adversarial attacks and present an original, fully fledged example of claims falsification in health insurance, as well as some remedies which are consistent with the current regulatory framework.https://www.mdpi.com/2227-9091/11/1/20AI in insuranceadversarial AIinsurance fraudmachine learning in insurance (ML) |
| spellingShingle | Behnaz Amerirad Matteo Cattaneo Ron S. Kenett Elisa Luciano Adversarial Artificial Intelligence in Insurance: From an Example to Some Potential Remedies Risks AI in insurance adversarial AI insurance fraud machine learning in insurance (ML) |
| title | Adversarial Artificial Intelligence in Insurance: From an Example to Some Potential Remedies |
| title_full | Adversarial Artificial Intelligence in Insurance: From an Example to Some Potential Remedies |
| title_fullStr | Adversarial Artificial Intelligence in Insurance: From an Example to Some Potential Remedies |
| title_full_unstemmed | Adversarial Artificial Intelligence in Insurance: From an Example to Some Potential Remedies |
| title_short | Adversarial Artificial Intelligence in Insurance: From an Example to Some Potential Remedies |
| title_sort | adversarial artificial intelligence in insurance from an example to some potential remedies |
| topic | AI in insurance adversarial AI insurance fraud machine learning in insurance (ML) |
| url | https://www.mdpi.com/2227-9091/11/1/20 |
| work_keys_str_mv | AT behnazamerirad adversarialartificialintelligenceininsurancefromanexampletosomepotentialremedies AT matteocattaneo adversarialartificialintelligenceininsurancefromanexampletosomepotentialremedies AT ronskenett adversarialartificialintelligenceininsurancefromanexampletosomepotentialremedies AT elisaluciano adversarialartificialintelligenceininsurancefromanexampletosomepotentialremedies |