The use of AI and algorithms by insurance companies is creating unexplained price differences that could erode public trust in the sector, according to Marvin van Bekkum, a jurist and computer scientist. His research, based on existing cases, regulations, and a survey of Dutch citizens, indicates that many find these data-driven price variations incomprehensible and unfair. Van Bekkum highlights that factors like house numbers are used by some insurers to set premiums, with companies citing statistical correlations to income or crime rates as justification. AI
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IMPACT AI-driven pricing in insurance may lead to unfairness and decreased consumer trust.
RANK_REASON Academic research on AI's impact on insurance pricing. [lever_c_demoted from research: ic=1 ai=0.4]