Munich Re offers new validation service for trustworthy artificial intelligence
Munich Re is enhancing the acceptance of artificial intelligence with its new CertAI validation service.
CertAI validates fully fledged AI systems or AI solutions already in productive use. It analyzes these solutions on the basis of six different factors – fairness, autonomy and control, transparency, robustness, functional and cyber security, and data protection. For this purpose, Munich Re has pooled its risk expertise in the area of traditional industrial insurance and new technologies with the experience of the Swiss certification company CertX. This startup company, in which Munich Re has held a stake since late 2021, was launched four years ago at the University of Applied Sciences in Freiburg.
“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.” – Jens Henkner, director of CertX.
“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.” – Fabian Winter, Munich Re’s chief data officer.