*** Data, Trust and AI in the Insurance Sector ***
Today, in the margins of the congress “The New Legal Framework for Insurance: Regulatory Challenges of Institutional Investment. Data and Agentic AI”, organised by Universidad Carlos III de Madrid, EDPS @Secretary_General Leonardo Cervera-Navas took part in a roundtable on “Data, Knowledge and Transformation in the Insurance Sector”.
The discussion addressed the role of data as a fundamental infrastructure for innovation and decision-making in the insurance sector, including data governance, data quality, interoperability and data analysis, as well as the associated legal, ethical and organisational challenges.
In his intervention, Leonardo Cervera-Navas stated: “My thesis is simple: in insurance, data is not just an asset; they are a trusted infrastructure. And a trusted infrastructure is governed, not just used.”
He also referred to the EDPS Opinion on the proposal on access to financial data highlighting that access to services necessary for daily life, such as credit, insurance or pensions, should not be made conditional on excessive data processing.
As the possibilities of data analysis expand, the questions extend beyond what data is collected to what is inferred from it, how those inferences are used and what safeguards are in place.
“Behind every dataset, every cloud contract, and every algorithm are people. Innovation only makes sense if it serves them.” concluded the Secretary-General.
#DataProtection #AI #Insurance