August 22, 2024 | 10:00 am - 11:00 am ET | Complimentary
AI for Insurance Companies: Balancing Innovation with Risk Management
AI Strategies for Insurance Companies to Safeguard Compliance and Drive Innovation
During this insightful webinar, the panel explores a transformative era in the insurance industry, driven by rapid advancements in artificial intelligence (AI). AI is becoming integral to various operations—ranging from customer service to fraud detection and underwriting—creating a complex pathway forward full of risks and opportunities for insurance companies. For CEOs, CFOs, and CIOs, mastering AI risk management is not just a regulatory necessity but a strategic advantage.
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About the Webinar
Main Takeaways
- Explore internal controls essential for managing all phases of the AI system lifecycle within insurance operations.
- Best practices for AI system use and testing to ensure thorough and timely validations.
- Understand the documentation required to support regulatory compliance in the evolving AI landscape.
- Identify high-risk areas in the insurance industry and develop a robust framework for AI risk management.
- Acquire skills for using open source tools securely in AI applications.
- Learn about the current applications and regulatory status of artificial intelligence in the insurance industry.
This OnDemand Session is Great For:
- CEOs, CFOs, and CIOs
- Board members
- Legal counsel
- Internal audit leaders
- Audit committee members
Topic Overview
- AI Opportunities
- Insurance companies can leverage AI for customer service, fraud detection, underwriting, and scalability.
- AI Risks
- It is important to identify risks such as data inaccuracy, legal complications, biases, and regulatory compliance.
- Mitigating AI Risks
- Engage best practices for governance, internal controls, and regulatory compliance through frameworks like NAIC, NYDFS, and NIST AI RMF.
- Internal Audit Role
- Understand the critical importance of internal audit teams in assessing AI risk management programs and ensuring regulatory adherence.
- Strategic Advantage
- Use AI responsibly to mitigate risks and drive operational efficiency.
Meet
Our Panel
Kim Mobley, CPA, CISA, CISSP
Partner
Johnson Lambert
Vivien F. Peaden, AIGP, CIPP/US, CIPP/E, CIPM, PLS
Of Counsel
Baker Donalson
Beau Breton
Business Intelligence Director
The Andover Companies
Gu Xie
Head of Data Engineering
Group 1001
