AI risks making some people ‘uninsurable’, warns UK watchdog

Q: How long will it take to read this news story?

The story "AI risks making some people ‘uninsurable’, warns UK watchdog" has 690 words across 22 sentences, which will take approximately 3 - 6 minutes for the average person to read.

Q: Which news outlet covered this story?

The story "AI risks making some people ‘uninsurable’, warns UK watchdog" was covered 1 weeks ago by Financial Times, a news publisher based in United States.

Q: How trustworthy is 'Financial Times' news outlet?

Financial Times is a fully independent (privately-owned) news outlet established in 1888 that covers mostly markets, finance, and investing news. The outlet is headquartered in United States and publishes an average of 4 news stories per day. It's most recent story was published 9 hours ago.

Q: What do people currently think of this news story?

The sentiment for this story is currently Negative, indicating that people regard this as "bad news".

Q: How do I report this news for inaccuracy?

You can report an inaccurate news publication to us via our contact page. Please also include the news #ID number and the URL to this story.<ul><li>News ID: #22595700</li><li>URL: https://beamstart.com/news/ai-risks-making-some-people-17267532778254</li></ul>

Financial Times 1w ago

AI risks making some people ‘uninsurable’, warns UK watchdog - Financial Times

Quick Summary:

Giving the example of “AI-enabled hyper-personalisation of insurance”, Rathi said this could benefit many consumers but also warned that it “runs the risk of rendering some customers ‘uninsurable’, or even potential discrimination”.

But he also gave some UK examples of innovation, including Finexos, which is working on availability of affordable credit, and Noggin, which produces an alternative credit score for consumers with limited credit history.

Rathi equated the risks of AI usage with the recent controversy over the dynamic pricing model that caused a surge in the cost of highly sought-after tickets for concerts by music group Oasis.“Just because something can be done, doesn’t necessarily mean the public will accept it,” he said, adding: “Not everyone will ‘Roll With It’.