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Published - June 19, 2026 02:36 am IST - HYDERABAD Insurance regulator IRDAI has constituted a working group on Artificial Intelligence (AI) to set direction on governance frameworks, best practices and safeguards for the insurance sector to pursue innovation, around the emerging technology, while ensuring policyholder data protection.
The seven-member working group, with IIIT Hyderabad Director Sandeep K. Shukla as Chairperson, will study AI’s impact, including potential challenges and risks, and assess implications for insurers, policyholders and the insurance ecosystem.
An assessment of the impact of frontier AI tools, prescribing a framework for implementing reasonable security controls to mitigate risks from AI driven automated attacks as well as examining need for sector-wide stress tests form part of the terms of reference.
The working group will assess adoption, usage, maturity and deployment and existing level of AI governance in the insurance sector; and carry out structural assessment of the inventory of AI systems used by regulated entities.
It is required to suggest an AI governance framework for ethical, transparent and explainable adoption of AI tools or models, including for claims and fraud preventions, the Insurance Regulatory and Development Authority of India (IRDAI) said.
Seeking to highlight the significance of studying AI’s impact on insurance ecosystem given the new dimensions of ethical, operational and cyber security risks, IRDAI said the working group will also review global regulatory and supervisory approaches on AI related to insurance sector.
It will suggest an AI audit framework addressing pre-deployment and post deployment audit requirements; and identify skill gaps and capacity-building needed for various stakeholders.
Serving and former senior officials of CERT-In, Reserve Bank Information Technology (ReBIT), a life, general and standalone health insurer will be its members and GM and CISO of IRDAI Deepak Gaikwad the member Convener.
IRDAI has set a three month deadline for the working group to submit recommendations.
The announcement, on the working group, follows IRDAI issuing revised guidelines on information and cyber security in April advising regulated entities to adhere and ensure compliance from current financial year in the backdrop of evolving threat landscape.
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