IRDAI forms working group on AI

The Insurance Regulatory and Development Authority of India (IRDAI) has established a seven-member working group on Artificial Intelligence (AI) to develop governance frameworks, best practices, and safeguards for the insurance sector. Chaired by Sandeep K. Shukla, the group will assess AI's impact, risks, and implications for insurers and policyholders, focusing on data protection, security controls, ethical adoption, and audit frameworks. It will also review global regulatory approaches and identify skill gaps, with a three-month deadline for recommendations.