Throughout the pandemic, the digitization of the industry has been a major issue for insurance companies. Digital transformation appears to be the solution to save time and money and to get closer to the insured. However, such a development has its share of negative aspects.
In a recent report on consumer trends, the European Insurance and Occupational Pensions Authority (Eiopa) has warned against the potential downside of digitalization. The latter can lead to fraud and product exclusions.
The absence of a contact person can lead to a poor understanding of covers and exclusions. This situation results in poorly protected insured in the event of a claim.
Another important point is that the use of Big Data [4] and artificial intelligence [5] has overwhelmed insurers. The large amount of consumer data collected and the techniques used to optimize prices create an environment of indirect discrimination in the presentation of insurance policies.