This session will highlight some of the major challenges encountered by CSPAs, actuaries and insurance business managers. Participants will discuss the problems they face with ethical dilemmas and user expectations concerning the work and advice from data scientists, predictive modelers, algorithm creators and others who rely on advanced technologies and artificial intelligence. Actuaries must comply with a code of professional conduct, including standards of practice. Insurers must contend with government regulations and regulatory oversight. The data science and analytics professionals, including non-actuaries, who support insurers are potentially vulnerable to a lack of clear safe harbor practices.
The session leader will challenge the participants with examples of ethical and professional issues. The session will focus less on the technology and more on navigating the implications of how professionals' work can be relied upon.
The session will also touch upon the potential need for professional education or qualifications for auditing algorithms for issues such as bias and unfair discrimination.
