Munich Re offers new AI validation service

Munich Re has launched its new CertAI validation service, aimed at enhancing the acceptance of artificial intelligence (AI).

CertAI has been designed to validate the trustworthiness of AI in new product solutions and demonstrate its quality to clients, investors and supervisory authorities. It validates fully fledged AI systems or AI solutions already in productive use, assessing them on the basis of the six factors of fairness, autonomy and control, transparency, robustness, functional and cyber security, and data protection. The service is being launched through CertX, a business in which Munich Re has a majority stake.

Jens Henkner, managing director of CertX, says: “CertAI supplements our offering, and we, in turn, are contributing our own know-how to it. We look forward to engaging in a long-term partnership which Munich Re has underpinned with its strategic shareholding. Going forward, I am certain that we will be able to explore more global business ideas together that combine certification and insurance.”

The CertAI risk service is the second AI product Munich Re has cooperated in, after aiSure. Both initiatives were developed in the company’s own venture building and incubation programme. Whilst CertAI can help to define whether AI systems meet the requirements regarding trustworthy AI, aiSure focuses on the performance of these systems and covers the financial costs resulting from the reduced performance of an AI application.

Fabian Winter, Munich Re’s chief data officer, added: “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.”

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