On Wednesday, November 3, 2021, Anna Gressel and Avi Gesser from our Data Strategy and Security Group joined guests Liz Grennan, Doug McElhaney and Alex Singla of McKinsey, for a special installment of our Data Security Webcast on managing AI risks in the insurance sector.

While artificial intelligence (AI) helps companies generate value, it also produces a variety of risks and ethical issues. During the webcast, we discussed the range of AI opportunities and risks in the insurance sector and best practices for risk mitigation and governance, including:

  • Implementing systematic risk management for AI;
  • Which models might be considered higher or lower risk;
  • The recent focus on “proxy discrimination” and potential risk mitigation approaches;
  • Governance mechanisms for compliance with existing and future regulations, including third-party diligence and adequate board and senior management oversight; and
  • How to prepare for potential AI incidents, including escalation plans and potential regulatory responses.

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Author

Avi Gesser is a Debevoise cybersecurity and litigation partner. He is a member of the Debevoise Data Strategy & Security Group, as well as the White Collar & Regulatory Defense Group. Avi has extensive experience advising on a wide range of cybersecurity matters, incident response issues, data strategy concerns and artificial intelligence risks. He can be reached at agesser@debevoise.com.

Author

Anna R. Gressel is a senior commercial litigation associate at Debevoise and a member of the firm’s Technology, Media & Telecommunications and Data Strategy & Security groups. She actively advises clients on the legal and regulatory implications of artificial intelligence (“AI”) and other emerging technologies. Her practice includes not only representing companies in regulatory inquiries concerning AI, but also assisting companies in developing AI principles and governance mechanisms. She can be reached at argressel@debevoise.com.