Identify Potential Underwriting Bias with AI Auditing

Unintentional bias in underwriting, whether human or algorithmic, is a significant ethical and regulatory concern. LLMs can be used to analyze historical underwriting decisions and data patterns to identify potential disparities or indicators of bias related to protected characteristics. This allows insurers to proactively investigate and address fairness issues in their models and processes. An LLM could analyze declined applications to see if specific demographic groups are disproportionately affected, flagging potential areas for review.