AI Compliance Assurance
AI Compliance Assurance is a new compliance service that we’re offering, designed to bridge the gap between the use of AI and complying with the complex regulatory framework across general insurance.
It is an active process of verifying and giving confidence that your use of AI meets all general insurance regulatory and Code requirements.
The AI Compliance Assurance service is provided by Paul Muir, a leading general insurance compliance specialist who has deep knowledge of the general insurance regulatory environment.
It is not a legal service, a technology audit, or a vendor recommendation service. It is experienced, pragmatic compliance delivered by a practitioner with deep knowledge of the GI regulatory environment and the general insurance industry, designed to ensure that as firms adopt AI, they continue to meet their existing compliance obligations.
Who needs AI Compliance Assurance?
We provide AI Compliance Assurance services to firms operating across general insurance including:
- APRA-regulated General Insurers
- Insurance Brokers
- Underwriting Agencies
- Insurance Claim Managers
- Delegated Claims Administrators
- Distributors
Service Suppliers to the general insurance industry
Why is AI Compliance Assurance necessary?
The Australian regulatory framework governing general insurance is technology neutral. The question is not whether these obligations apply to your use of AI, but whether you can demonstrate that you are meeting them.
Laws and industry Codes have multiple impacts and apply at different customer touchpoints, this creates unique issues and risks depending on your use of AI. Typical AI ‘use cases for general insurance include:
- Data and knowledge – reading policy documents, PDSs, claim files and underwriting information
- Understanding and analysis – extracting information from claim forms, repair quotes and incident reports
- Prediction and decision support – predicting claim severity, fraud risk or customer vulnerability
- Generation – drafting claim correspondence, underwriting summaries and broker communications
- Interaction – AI claims assistants and customer service agents
- Automation and workflow execution – automatically triaging claims or complaints and initiating approved workflow steps
- Agents and autonomous systems – an AI agent managing a multi-step claims or underwriting process under defined controls
No matter how you use AI, we will support you to align that use to your compliance requirements, ensuring that the controls being implemented are designed effectively and manage your regulatory, compliance and operational (resilience) risk.
This is not an AI service; it is a compliance service. We verify that your use of AI, whether in sales and distribution, broking, product and pricing, claims handling and settlement, complaints or incident and breach management, operates within the boundaries your obligations require.
What does AI Compliance Assurance involve?
- Compliance assessment of your ‘AI use cases’ against financial services laws, and (as relevant), the Privacy Act, APRA Prudential Standards and industry Code obligations;
- Compliance assessment of supporting artefacts;
- Risk based tiering of each AI application by customer and regulatory impact based on the general insurance regulatory environment;
- Practical, operational compliance guardrails defined for each use case and alignment with obligation(s) blended within your existing Risk and Compliance framework and avoiding duplication and inefficiency;
- AI governance review covering Board and Management reporting, senior leader and responsible manager oversight, and human in the loop requirements
- Compliance advice across the full AI lifecycle, from concept through to post implementation and monitoring
- AFCA and complaints readiness review of AI influenced decisionsWe provide flexible options for AI Compliance Assurance
The service is available as a point in time assessment, lifecycle advisory across a specific AI project, or an ongoing advisory retainer, tailored to your firm’s AI, risk maturity and compliance needs.
Our solutions are tailored to your needs and budget. Contact us by email or phone to discuss how we can support your AI compliance journey.