Artificial Intelligence (AI) or Machine Learning (ML) algorithms, in the past few years, have been widely implemented in various industrial applications. Sometimes, these ML algorithms exhibit significant bias, or referred as Algorithm Bias, to certain groups. By the definition, Algorithm Bias refers to the inequality brought by the application of algorithms regarding personal features like […]
A smart contract is a set of codes that execute business logics for contractual agreement in financial transactions. Our University of Illinois team has designed various business models for catastrophe risk sharing. In this project, students are expected to learn smart contract programming and build the first of its kind smart contract for distributed insurance. […]
Foot traffic data is captured by various sources, such as smartphone APP, telematics devices in the vehicle, which can help insurance monitor policy holders’ behavior. It is beneficial for insurance companies to price the risk accurately and accelerate the underwriting process. On the other hand, policyholders are given incentives for good driving behavior. There are […]