USAA and Genpact, measuring insurance AI bias: Roundup
August 29, 2022 1:57 PM
USAA has selected Genpact to implement digital and AI capabilities in its Property Direct Repair Program, the companies announced. Genpact's Cora Claims Manager will power the program, which pairs contractors with homes in need of repair after a claim. It includes a member portal for repair and contractor management, as well as an analytics back-end to help improve the program.
FairPlay, a company that makes software to detect algorithmic bias in financial services, is expanding into insurance. The company's newly launched insurance division is led by Josh Hershman, who had been Deputy Commissioner of the Connecticut Insurance Department. Its Input Intelligence tool claims to help companies "review their data for bias, ensuring they are not proxies for protected characteristics such as race or gender," the company says. This includes information on redlining as well.
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At-Bay, an insurtech providing a platform for commercial insurance, has acquired Relay, a technology provider for digital commercial insurance placements. Relay's digital placement solution for multiple specialty commercial lines focuses on cyber. It remains an independent entity under its own management team. This adds to At-Bay's dedicated broker platform and API. Terms of the deal were not disclosed in the company announcement.