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Executive Viewpoint: Is Insurance the Hero AI Needs?
I founded Monitaur in 2019 to enable confidence and trust in AI through governance and assurance.
Executive Summary
Risk mitigations enable insurance, and insurance enables the acceleration of innovation, writes Monitaur CEO Anthony Habayeb, offering his perspective on how insurers can be heroes in the quest to understand and tame AI risks.
"Insurance should be the industry that leads all industries on demonstration of responsible and ethical AI governance," he writes, noting that the measures insurers take internally aren't just good business practices. They also position carriers to better evaluate—and backstop—the use of AI by other companies. Executive Summary Risk mitigations enable insurance, and insurance enables the acceleration of innovation, writes Monitaur CEO Anthony Habayeb, offering his perspective on how insurers can be heroes in the quest to understand and tame AI risks.
“Insurance should be the industry that leads all industries on demonstration of responsible and ethical AI governance,” he writes, noting that the measures insurers take internally aren’t just good business practices. They also position carriers to better evaluate—and backstop—the use of AI by other companies.
With my partners, the company was founded with the belief that by enabling governance, we could accelerate the positive potential of AI to make our lives better. Personally, I was inspired by the idea that AI would fundamentally change the fight against cancer, and I wanted to be a part of that. I still believe AI will improve our research, our drugs, our patient care and our treatment of cancer. But during our company’s journey, we found the insurance industry. And the more time we spend here, the more I believe AI’s future success flows through insurance.
