Financial institutions cannot simply accept every application for e.g. a mortgage loan or non-life insurance product. To avoid harmful commitments for both bank and client, acceptance is based on selection criteria, often with the help of mathematical models. In these processes, discrimination should be...

Machine learning and artificial intelligence are regularly in the news: from self-driving cars to clever algorithms that detect fraudulent transactions. However, within risk modelling machine learning has yet to make an impact. This is partly due to the strict regulations these models need to...