Artificial intelligence is bringing about ‘incredibly useful’ innovation to international private medical insurance but regulatory regimes across the globe threaten the pace of adoption of these solutions.
This is according to Chris Hughes, managing director of Health Well Solutions (pictured centre), who participated in a panel session at Health & Protection’s third annual IPMI Summit at Sopwell House in St Albans recently.
“The biggest problem you’ve got there is regional,” Hughes told delegates.
“For example, you can’t even check your emails in China if it’s not a localised system.
“So putting AI into a product in China, the Chinese won’t allow that at the moment. So you’ve got to go region by region.
“If you’re developing a product for Africa, it’s going to be very different in the way AI is used and utilised.”
Really cool solutions
Hughes maintained the UK is developing a lot of ‘really cool’ AI solutions.
“I’m involved as a non-executive director for a lot of companies that are bringing in products that are going to be incredibly useful to insurers. But the adoption by insurers, because again it’s regional especially on the IPMI market, is really, really difficult,” Hughes continued.
“So it will get there but that’s going to take time because each regulator has its own opinions about the way a product is utilised in certain ways.”