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Transparent algorithms in insurance

Decisions taken by machines can increase productivity and competitiveness as well as compensate for flaws in human decision-making. However, they also bring about some new and challenging problems. Creating more transparent algorithms is not only an interesting research area, but also a necessity to take full advantage of digitization.

In this project, we develop methods for more transparent use of algorithms in the insurance industry, investigate the consequences of increased transparency, study the ethical requirements that can be placed on algorithms, and examine how much individual programmers affect the outcome and transparency of algorithm-based decision making.

Insurance decisions come in many forms and can be based on different parameters. Different kinds of insurance also entail different preferences and different acceptance for which factors decisions may or may not be based on. In everything from life insurance for individuals to cyber insurance for companies, there are ethical dimensions. When humans are removed from the decision-making process, the need to understand how the algorithms work and make their decisions increases. Thus, automation of the right kind is a crucial strategic issue for the insurance industry.

Read the final report of the project here.


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Länsförsäkringars Forskningsfond

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Ulrik Franke

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Ulrik Franke

Senior Researcher

+46 72 549 92 64

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