Multiparty AI and LLM: The time to transform and adopt is now. RiskStream is ready to lead the way.
The landscape of risk management and insurance is evolving, with emerging risks and advancements in data analytics reshaping industry operations and risk assessment. AI and other innovative tools are being harnessed to drive efficiency and innovation.
AI Council Initiative - Strategic Goals
Collaborate:
Provide a forum for an industry-wide perspective for AI/LLM usage within the insurance industry
Provide collaborative benefits including workshops/education, certifications, standards and discussions on AI ethics
Develop an industry-led governance approach
Streamline:
Provide an industry-wide perspective on use cases across the insurance value chain for multiparty business process improvement
Prioritize these use cases and find top notch solution providers relevant to those areas
Work with those solution providers to create industry-wide multiparty solutions with a common underlying framework
Implement:
Share these solutions with entire insurance ecosystem
Maximize the ROI of industry-wide existing technology spend
Adopt solutions
Governance Responsibility
RiskStream and their members have identified some initial roles and responsibilities related to the AI Council governance role:
Profile:
AI Leader in the Insurance industry.
Broad knowledge of Artificial Intelligence/LLM Use cases.
Willing to work as a point person within RiskStream as an organizational and industry AI representative, giving consideration to timelines, industry & member demands and other appropriate factors that will be to the betterment of the Council and the industry’s interests.
Provides sign-off on critical decisions where appropriate and serve as your organization’s internal champion for the consortium for AI/LLM Use Cases or task force deliverables.
Willing to be a participant on various roles within AI Council, including AI Executive Committee, AI Policy Task Force, AI Research Task Force or AI Solutions Task Force.
Responsibilities:
Attend quarterly meetings.
Provide guidance on AI-related strategy.
Advising on consortia use cases (multiparty AI use cases).
Advising on solution providers and RFI awards.
Assists with industry perspectives on regulation and ethical use of AI in the insurance industry.
Assists with providing perspective on tools that may minimize bias.
Creates strategy with Council and works with The Institutes, RiskStream Explores, and RiskStream on related deliverables, which could include workshops, educational offerings or standards.
Help identify, supports and assists with recruiting efforts for new RiskStream Collaborative consortium members.