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Italian insurers’ association ANIA probed by competition watchdog

( November 16, 2020, 13:42 GMT | Official Statement) -- MLex Summary: The Italian antitrust watchdog has today opened a probe into Associazione Nazionale fra le Imprese Assicuratrici. The watchdog is investigating a project aimed at the creation of databases and common algorithms to determine fraud risk indicators that insurance companies could use in both the liquidation and hiring phases. As currently designed, the project presents a number of “critical competition issues,” the watchdog said, pointing to the lack of sufficient guarantee for third parties, as the project was developed by ANIA to represent the interests of insurers themselves. “The development of common algorithms and the sharing of a large amount of data could influence and standardize the choices of companies in important phases of the insurance business,” the authority said in a statement, underlining collusion concerns.Press release follows in Italian....

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