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Defining AI Risk: A Key Challenge for Insurance Regulators

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In this Insuring Cyber podcast excerpt, the discussion highlights one of the biggest hurdles facing insurance regulators: defining the type of risk AI presents. Regulators are taking a risk-based approach, recognizing that not all risks are the same, with special attention on areas such as life insurance, unfair practices, and algorithmic bias. A major concern is third-party risk—the reliance on external data, models, and vendor tools that insurers use to deploy AI. Since regulators have limited oversight over these third parties, the challenge becomes ensuring proper governance and accountability. To watch the entire episode with host Elizabeth Blosfield and Peter Dugas, executive director at Capco, visit https://www.insurancejournal.tv/videos/25643/