Safeguard Your Data When Deploying AI in Your Insurance Systems

Protect personal identifiable information (PII) against privacy breaches. PII is highly sensitive personal information that, if not adequately protected, can be prone to significant privacy breaches.
Understand the best approach to protecting your insurance systems.
Traditional methods are no longer effective because legacy systems may not be fully adapted for specific needs within the insurance industry.
Insurers are unaware of PII risk points and how to comply with them.

Our Advice

Critical Insight

Integrating privacy-preserving methods seamlessly into existing AI systems used in insurance will maintain system performance while safeguarding data privacy.

Impact and Result

Determine which insurance-specific risks apply to your organization.
Use a continuous improvement approach with metrics and a risk-based strategy that aligns with a privacy framework tailored to your organization’s needs.
Training on AI is essential to help your employees understand the risks that AI can introduce and to influence overall culture.

Safeguard Your Data When Deploying AI in Your Insurance Systems Research & Tools

1. Safeguard Your Data When Deploying AI in Your Insurance Systems – A step-by-step document that describes potential risks encountered by insurers and the corresponding mitigation strategies.

Understand the best approach to protecting your insurance systems against privacy risks and plan for future improvements by following best practices to make sure your insurance requirements are solid.

2. Generative AI Risk Map for the Insurance Industry – A tool to help insurers determine their data security risks and recommend policy statements for using generative AI.

This tool will help you determine whether your generative AI use case carries risks like data breaches of PII, insider threats, or noncompliance with privacy regulations. It will recommend policy statements to be used in Info-Tech's AI Security Policy Template for the Insurance Industry.

3. AI Security Policy Template for the Insurance Industry – A policy template covering all the major areas of AI-related risks for insurance.

This template can be used on its own or in conjunction with the Generative AI Risk Map for the Insurance Industry, which will help you determine which policy statements are relevant for your organization. This template addresses data retention, encryption standards, and password security among other policy sections.

Safeguard Your Data When Deploying AI in Your Insurance Systems visualization

Protect PII by leveraging AI to reduce your risk of exposure.

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Author

Arzoo Wadhvaniya

Contributors

Rob Tyrie, Special Advisor, AI and Insurance, Accern

Search Code: 106348
Last Revised: December 9, 2024