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in the development of digital responsibility principles in This Regulation provides for general rules on online Artificial Intelligence (AI) accountability. It launched a large-scale pilot phase for
insurance. The Expert Group aims to address the use of new platforms, not specifically targeting the financial/insurance feedback from stakeholders in the summer of 2019. It works
business models, new BDA tools (such as AI and ML) and sector, and it does not affect the application of the relevant Background on international consensus building for humancentric AI. The
data sources in insurance from the perspective of fairness rules of Union law applicable in financial services (e.g. the HLEG concludes that, while these Guidelines aim to build a
and non-discrimination, transparency and explainability, IDD). However, these rules on online platforms will apply in Algorithms are behind more and more decisions that affect our horizontal framework to achieve Trustworthy AI, it should be
and governance. Different areas of the insurance value chain addition to sector-specific legislation when: everyday lives, for example getting a loan, or the selection of explored whether a sectorial approach is needed, given the
will be covered with specific focus to be given to pricing and filtering of information. In several areas, there are already EU context-specificity of AI systems, and that the Guidelines are
underwriting. The two candidates that BIPAR had supported - Insurance/financial intermediaries are business rules for algorithmic decisions. Examples include automated a living document which should be reviewed and updated
were both appointed members of the Expert Group. The users of online platforms/corporate websites in order to decisions based on personal data (GDPR) and for high- over time to ensure continuous relevance.
Group is expected to adopt a report and some proposed offer (ancillary) insurance/financial services; in other words, frequency trading on the stock market (MiFID II).
principles in the development of digital responsibility in they will be entitled to the rights provided in the Regulation. EU Digital Strategy 2020
insurance by the end of 2020. - Insurance/financial intermediaries (including In April 2018, the European Commission proposed in its On 19 February 2020 the European Commission announced
comparison tools) are providers of online platforms/ “Strategy on AI for Europe” to work with Member States the initiatives and actions to be taken over the next five
BIPAR believes that intermediaries, who are daily confronted corporate website offering (ancillary) insurance/financial on a Coordinated Plan on AI with the aim of increasing years in order to address the challenges and opportunities
with the processing of consumer’s data, should actively services; in other words, they should comply with the investments in AI research and innovation, brought about by digitalisation. The
explore the potential of the use of BDA in order to improve transparency obligations laid down in the Regulation. encouraging synergies and cooperation EU Digital Strategy is presented in the
their processes. BIPAR also emphasises the need for a level across the EU, preparing socio-economic Commission Communication “Shaping
playing field among the different distribution channels changes brought about AI and ensuring an Europe’s Digital Future”.
and warns of the challenges arising with regard to the appropriate ethical and legal framework.
mutualisation principle, the comparability of products and The Communication presents the
the cyber risks. The development and use of cyber insurance According to the Commission’s three key objectives on which the
products may be one of the answers for the prevention of Communication on AI, “artificial Commission will focus to promote digital
such risks. intelligence refers to systems that display transformation for the benefit of people:
intelligence behaviour by analysing their • Technology that works for
Transparency of online intermediation services environment and taking actions – with people;
some degree of autonomy – to achieve • A fair and competitive
Background specific goals”. The High-Level Expert Group (HLEG) on AI set economy; and
up by the Commission published in December 2018 a paper • An open, democratic and sustainable society
In April 2018, the European Commission presented a proposal The Regulation introduces a ban on certain unfair determining the definition of AI in more detail.
for a Regulation of the European Parliament and of the practices (e.g. terms and conditions must be easily
Council on promoting fairness and transparency for business available and provided in plain and intelligible language), The HLEG on AI published its “Ethics Guidelines for The White Paper on Artificial Intelligence and the European
users of online intermediation services. greater transparency in online platforms (e.g. main Trustworthy AI” in April 2019. According to the Guidelines, Data Strategy presented together with the EU Digital
parameters determining ranking, including direct or trustworthy AI has three components, which should be met Strategy are the first steps towards achieving these goals.
The Regulation on promoting fairness and transparency for indirect remuneration paid by business users), mandatory throughout the system’s entire life cycle: 1) it should be The White Paper on AI sets out the Commission’s proposals
business users of online intermediation services has been disclosure for a range of business practices (platforms lawful, complying with all applicable laws and regulations 2) for a trustworthy and secure development of AI in Europe.
published in the Official Journal of the EU in 20 June 0219 must exhaustively disclose any advantage they may give to it should be ethical, ensuring adherence to ethical principles The Commission presents policy options on creating a
and it will start to apply in EU Member States from 12 July their own products over others), new avenues for dispute and values and 3) it should be robust, both from a technical legal framework that addresses the risks for fundamental
2020 (Regulation 2019/1150). All language versions of this resolution (all platforms must set up an internal complaint- and social perspective since, even with good intentions, AI rights and safety, including in the field of financial services.
Regulation can be found here. The Regulation aims to ensure handling system to assist business users) enforcement rules systems can cause unintentional harm. The Commission Communication on the “European Data
that business users of online intermediation services and (business associations will be able to take platforms to court Strategy” outlines a strategy for policy measures and
online search engines are granted appropriate transparency, to stop any non-compliance with the rules). The Guidelines offer guidance on the second and third investments to enable the data economy for the coming five
fairness and effective redress possibilities. The Regulation To assist online intermediation services and online search component of trustworthy AI. The Commission is taking a years. The ultimate objective is to set up a true European
covers online platforms, such as price comparison websites, engines in complying with the obligation to set out in their three-step approach. It sets out the key seven requirements data space, a single market for data (personal and non-
and online search engines that provide their services to terms and conditions the main parameters determining that AI systems should meet: Human agency and oversight, personal data, including confidential and sensitive data),
businesses which are established in the EU and which offer ranking and the reasons for the relative importance of those Technical robustness and safety, Privacy and data to unlock unused data, allowing it to flow freely within
goods or services to consumers located in the EU. main parameters, the European Commission is planning to governance, Transparency, Diversity, non-discrimination the European Union and across sectors. The Commission
adopt guidelines. and fairness, Societal and environmental well-being and proposes, amongst other, to Launch sectoral specific actions

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