Swiss Re’s Beijing branch has partnered with Tencent-backed WeBank to research the applications of AI in the reinsurance industry. The research will focus specifically on federated learning and how it can be used to solve the inefficiency of data silos. Federated learning is an encrypted and distributed machine learning approach which enables training for joint machine learning on decentralized data, wherein no data transmission is required for participants. In a recent interview, CEO Michael Schaller said that he believes blockchain is going to play an important role for insurers moving forward.
Swiss Re’s Beijing branch has partnered with Tencent-backed WeBank to research the applications of AI in the reinsurance industry. The research will focus specifically on federated learning and how it can be used to solve the inefficiency of data silos. In a recent interview, CEO Michael Schaller said that he believes blockchain is going to play an important role for insurers moving forward.