AI Offers Huge Potential to Insurers, but Also Brings New Risks: Morningstar DBRS

Navigating AI’s Twin Perils: The Rise of the Risk-Mitigation Officer

Generative AI is reshaping trust and accountability in the digital landscape, leading to the emergence of the AI Risk-Mitigation Officer role. This strategic position blends technical, regulatory, and ethical expertise to proactively manage AI risks, driven by EU regulations and U.S. compliance demands. The role focuses on ensuring responsible AI deployment without stifling innovation, emphasizing risk audits, incident response, and stakeholder …

AI offers huge potential to insurers, but also brings new risks: Morningstar DBRS

While artificial intelligence (AI) investments offer significant growth and profitability potential for insurance companies, they also bring new risks that, if not managed properly, could cause significant financial and have a negative impact on credit ratings, according to Morningstar DBRS analysts. Insurers have long used machine learning, natural language processing and predictive analytics for underwriting models. Now AI-powered technologies…

Insurity Unveils Agenda for Excellence in Insurance, Equipping Insurers to Navigate AI, Compliance Demands, Catastrophe Risk, and Core Modernization with Confidence

Open the article to view the coverage from GlobalFinTechSeries