Ethical Concerns in the Field of Artificial Intelligence and Data Analytics in Insurance Industry

Pawan Pant, Kaushal Kishore Mishra (), Bhaskara Srinivas and Azmee Zaheer
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Pawan Pant: Chandigarh University
Kaushal Kishore Mishra: Chandigarh University
Bhaskara Srinivas: Chandigarh University
Azmee Zaheer: Chandigarh University

A chapter in Digital Advertising and Consumer Behavior, 2026, pp 177-192 from Springer

Abstract: Abstract This chapter analyses ethical considerations in data analytics, which holds great promise for changing corporate operations, strengthening risk management plans, and boosting customer experiences in the quickly evolving insurance market. However, as the use of data-driven technology grows, there is a growing need to address ethical issues related to data collecting, analysis, and use. The organisation of the chapter is based on key ethical values, including responsibility, openness, fairness, privacy, and informed consent are all included in the framework, which draws its principles from the literature review on ethics, data governance, and regulatory compliance. An empirical study with descriptive statistical analysis using tools correlation, regression and ANOVA has been carried out to find the relationships between the different sets of variables, viz. transparency in data analytics practices and stakeholder trust; ethical training and awareness programs for employees and moral decision-making in data analytics processes; and data breaches and privacy incidents. A sample size of 345 IT professionals and students from the tri-city of Chandigarh over three months from January to March 2024 has been administered for data analysis. From the empirical study, it has been established that there is a highly positive correlation between transparency in data and trust in stakeholders. It has also been observed that ethical training and awareness programs for employees have a positive influence on ethical decision-making in data analytics processes. We have found that organisations that prioritise privacy by design principles exhibit greater resilience to data breaches and privacy incidents.

Keywords: Ethical considerations; Data analytics; Insurance industry; Big data; Ethical culture; Ethical leadership; Data governance (search for similar items in EconPapers)
Date: 2026
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DOI: 10.1007/978-981-95-7809-2_11

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