Digitalisation

Committee:
Insurance
status:
Some progress
Published:
The insurance industry in Japan has been traditionally paper-heavy, however, especially after Covid 19use of digital solutions  are accelerated to further simplify processes, instead of focusing on face to face with paper etc., for added value services. Moreover, the progress of AI technology is remarkable. The insurance industry in Japan is currently seeking the right way to use AI solutions to improve our services for customers, after careful consideration of preventive measures against the potential risks.

Recommendations

  • In setting rules for AI, Japan should continuously take a risk-based approach and carefully consider examples from other countries not to over-regulate, balancing the value creation aspect.