© mauritius images / Cultura / Andrew Brookes

Using digitalisation responsibly

Digitalisation is entering many aspects of our lives both in business and in private. For the insurance industry too, digitalisation is key to a successful future. In the context of the digital transformation, we have defined data protection and cyber security, along with responsible implementation of AI, as key aspects of corporate responsibility.

High priority given to data protection and cyber security

For us, it is crucially important to protect the personal data of our employees and clients, the information of our business and sales partners, and our own company secrets.

Responsible handling of artificial intelligence and big data

Artificial intelligence and big data will play a central role in the insurance industry in future, whether in product design, underwriting, claims management, or in internal accounting processes. Liability issues are changing through the use of AI in insured products and services, for example with autonomous driving or in the field of medicine. Ethical principles are essential when using new data-based algorithms in order to protect the rights of our clients. Under the guiding principle of “Responsible Artificial Intelligence”, Munich Re is currently devising a strategy based on the four “ethics guidelines for trustworthy AI”. 

Principles of “ethics guidelines for trustworthy AI”

  • Respect for human autonomy
  • Prevention of harm
  • Fairness
  • Explicability

From these principles, Munich Re has derived a definition of the requirements for responsible use of AI in its own activities.

Training of our developers and employees

Digital technology is transforming the workplace – especially at companies that are highly data- and knowledge-driven, such as Munich Re. We believe this makes it all the more important for us to provide target-group-specific basic and further training for our developers, users and managers. In this way, we want to ensure that our AI-based systems always meet the relevant standards, and that our employees are in a position to use such systems in a responsible way. 

In the course of digitalisation, the volume of available data has increased significantly. This has paved the way for innovative business models and numerous new fields of application. At the same time, the field of application for data analysis is becoming increasingly complex, requiring ongoing training of experts, along with a cross-sector transfer of knowledge.

In 2018, a comprehensive digital training programme was developed for all employees in the form of the “Digital School” in the reinsurance business field. The objective is to ensure that each employee has at least a basic knowledge of the digital technologies and trends that affect us.

Social impact of AI – promote exchange, protect against risks

AI will have multiple repercussions on society that are impossible to predict today. For that reason, ethical guidelines for dealing with AI can only be achieved in dialogue with politicians and scientists.
Experts in bodies
Our AI experts are members of several bodies, such as the Microsoft expert committee on AI, where they exchange information with other companies and draw up guidelines for dealing responsibly with the technology.
Shareholder in the German Research Centre for Artificial Intelligence (DFKI)
This move will strengthen cooperation between the world’s leading representatives from the fields of industry, science and politics. Not only will the partnership help us develop the best processes for our clients, it will also make the latest level of knowledge available to our employees and further advance research in this field.

Digitalisation for the good of society

In line with our shared-value approach, we want to use digitalisation and artificial intelligence for the good of society. We demonstrated how this could work through our involvement in the Social Impact Datathon 2018, which was held to support the fight against global hunger. The aim was to use AI to identify and effectively manage malnutrition risks.

Explore further Corporate Responsibility topics

Corporate Responsibility Report

In our Corporate Responsibility (CR) Report, we describe the ways in which we embrace corporate responsibility in our day-to-day operations.
We use cookies on our websites to improve your experience as an internet user, and to optimise our online services. They comprise cookies that are required for technical purposes, and without which the website functionality could not be guaranteed. We also employ cookies to carry out statistical evaluations of the reach of our websites. These evaluations are anonymised. You can find further information on the cookies we use, and ways to object to the use of cookies for statistical evaluations, in our cookie guidelines.