Munich Re is enhancing the acceptance of artificial intelligence

19 May 2022 — Marina MAGNAVAL
Munich Re, one of the world's leading providers of reinsurance, primary insurance and insurance-related risk solutions, is enhancing the acceptance of artificial intelligence (AI) with its new CertAI validation service, the company said.

Jens Henkner, director of CertX, says: "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".

"The digitalization megatrend is also transforming the risk landscape. Novel risks - be they in the area of cyber, data analytics, quantum computing or artificial intelligence - call for innovative solutions. Munich Re started investing in the build-up of relevant know-how early on and is unlocking new digital fields of business for the benefit of its clients on an ongoing basis. CertAI will enable us to take the next step forward and reinforce our position as a reliable industry partner for the digital world", says Torsten JEWORREK, Member of the Board of Management of Munich Re.

The CertAI risk service is the second AI product Munich Re has cooperated in, after aiSure. Both initiatives are the result of Munich Re's global innovation activities and were developed in the company's own venture building and incubation program. Whilst CertAI can help to define whether AI systems meet the requirements regarding trustworthy AI, aiSure focuses on the performance of these systems and covers the financial costs resulting from the reduced performance of an AI application. Both products complement each other by addressing different client needs, as the company said in its statement.

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