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.

To register for an on-demand version of the Webcast, please click here.

To see what you may have missed on AI Regulation, please click here.

To see our previous AI-related webcasts, please click here.

To sign up for the Data Blog, please click here.

Author

Avi Gesser is Co-Chair of the Debevoise Data Strategy & Security Group. His practice focuses on advising major companies on a wide range of cybersecurity, privacy and artificial intelligence matters. He can be reached at agesser@debevoise.com.

Author

Anna R. Gressel is a senior associate and a member of the firm’s Data Strategy and Security Group and its FinTech and Technology practices. Her practice focuses on representing clients in regulatory investigations, supervisory examinations, and civil litigation related to artificial intelligence (“AI”) and other emerging technologies. Ms. Gressel has a deep knowledge of regulations, supervisory expectations, and industry best practices with respect to AI governance and compliance. She regularly advises boards and senior legal executives on governance, risk, and liability issues relating to AI, privacy, and data governance. She can be reached at argressel@debevoise.com.