Digital innovation
Rapidly increasing technological and digital innovation in the financial sector (“FinTech”) will have far-reaching effects on the insurance sector. FinTech presents significant opportunities for financial inclusion and policyholder value yet also poses conduct and operational risks. The rapid expansion in alternative data sources and advanced data analytics has particular impact and has the potential to disrupt the insurance market. Digital innovation continues to be a strategic theme for the IAIS as part of the IAIS Strategic Plan 2025-2029. The main focus of the IAIS’ activities in this area are around , as well as sharing supervisory practices and providing a platform for exchange of experiences and insights.
FinTech Forum
The IAIS FinTech Forum is a forum of technical experts from the IAIS’ diverse membership. It serves as a platform to share practical insights and experiences on FinTech-related developments influencing the insurance sector and insurance supervisors globally. The Forum has three workstreams:
- Artificial intelligence – which supported the drafting of the Application Paper and is now focused on developing a member-only report sharing best practices for supervising the use of AI by insurers.
- SupTech – which looks at emerging good practices in the use of supervisory technology (SupTech) and which will publish a member-only report looking at effective use cases. See also below, under “key documents” for a publication from December 2022 which cites a number of examples of how SupTech tools are used by insurance supervisors.
- Monitoring – which assesses emerging digital innovation trends in the insurance sector to understand potential impact on supervisory practices.
Forum members regularly engage with stakeholders to track the latest trends in digital innovation.
Monitoring artificial intelligence developments
The IAIS is examining AI adoption in the insurance sector, with a focus on its implications for insurers’ operations, balance sheets and risk management frameworks. In December 2025 the IAIS published the Global Insurance Market Report which included an assessment of AI use cases by insurers, the risks insurance supervisors are assessing and emerging considerations on the underwriting of AI liability.
Supervisory practices
In July 2025 the IAIS published an Application Paper on the supervision of artificial intelligence (AI) following a public consultation in early 2025. This paper builds on previous work by the IAIS, including a thematic review performed in 2023, of existing guidance on AI and machine learning (ML). This review supported the exchange of supervisory practices and experiences, particularly in addressing potentially new or heightened risks associated with AI/ML. A summary of the key findings of the thematic review was published in December 2023.
Recent and upcoming events
In 2026, the IAIS will host Member-only webinars about its AI question bank and SupTech report. Members can register now for the AI webinars on 5 March and 28 April and the SupTech webinars on 26 March and 21 May.
On 17 July 2025 , a public background session on the Application Papers on artificial intelligence and operational resilience was held from 13:00 – 14:30 CEST. Please click here for more details.
- 10 July 2024: Global Seminar panel on artificial intelligence in the insurance sector
The Application Paper published in 2025, addresses a range of considerations related to the use of AI systems in insurance, with a focus on both consumer protection and prudential soundness. It includes five broad sections:
- Risk-based supervision and proportionality: consistent with the requirements set out in the ICPs and following feedback during the consultation period, the final Application Paper reflects the need for supervisors to adopt a risk-based and proportionate approach to the supervision of AI.
- Governance and accountability: this includes the importance of continued Board and senior management education, the need to integrate AI into risk management systems, provide human oversight of AI risks and considerations around the use of third parties.
- Robustness, safety and security: this considers issues related to the robustness, safety and security of AI systems.
- Transparency and explainability: this section sets out the need for AI outcomes to be explainable and tailored to the need of different stakeholders.
- Fairness, ethics and redress: this section includes the need for fairness-by-design, monitoring of outcomes and adequate redress mechanisms. It also highlights the need for supervisors and insurers to consider the broad societal impacts of granular risk pricing on the principle of risk pooling.
Member-only reports
In 2026 the IAIS released two member-only reports:
- Supervisory question bank on artificial intelligence governance and risk management: this is a practical tool to support IAIS members in their engagement with insurers on the deployment of artificial intelligence (AI) use cases. The question bank will help supervisors to engage with insurers on these issues and assess the AI governance and risk management measures that insurers are implementing. The question bank builds on the IAIS’ Application Paper on the supervision of artificial intelligence published in July 2025.
- SupTech Member-only report: amid rapid technological evolution and increasing complexity in financial markets, supervisory technology (SupTech) has emerged as a critical enabler for supervisors to enhance their effectiveness, efficiency and adaptability. This report provides a valuable opportunity not only to showcase examples of best practices but also to offer insights derived from engagements with members and external experts.
Member-only materials can be shared with all employees of an IAIS member organisation.