The Stanford Center for Legal Informatics, jointly operated by Stanford Law School and the Computer Science Department within Stanford Engineering, recently launched the Stanford CodeX Insurance Initiative to help bring the power of computable contracts technology to the insurance industry, potentially making insurance services more affordable and transparent to businesses and individuals. As part of the new initiative, CodeX is collaborating with AXA, a French multinational insurance firm, and other insurance leaders to research and test automated computing options using artificial intelligence (AI) to codify the terms of contracts in computable form.
The initiative’s multi-year effort will apply research in computer science, law, and legal design to build a shared toolset for computable insurance contracts. The initiative brings together influential industry leaders, insurance regulators, and other government agencies, tech companies, academics, and Stanford students—and will share and promote solutions via published research papers, workshops, and conferences.
“We hope this initiative will spark greater innovation and collaboration in the industry to improve access to insurance products and help consumers around the world customize affordable insurance to their specific needs,” says Roland Vogl, JSM ’00, executive director of CodeX. To learn more about the project, go to https://stanford.io/3wRK1tl. SL