Artificial Intelligence (AI) Systems

Advanced analytical and computational technologies that enable machines to simulate human intelligence, including learning, problem-solving, and decision-making capabilities. In the insurance context, these systems are applied across various functions such as underwriting, pricing, claims processing, and fraud detection, influencing or making decisions affecting consumers.

Refers to systems that display intelligent behaviour by analysing their environment and taking actions – with some degree of autonomy – to achieve specific goals. These systems can be knowledge-based, machine learning-based, or hybrid.

Broadly refers to engineered or natural systems that generate a particular output for a given set of inputs, with the ability to learn, reason, or adapt. This is a foundational concept for the entire framework.