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.
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:
Forum members regularly engage with stakeholders to track the latest trends in digital innovation.
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. Data on AI adoption in the insurance sector remains largely anecdotal and quickly becomes outdated due to the rapid pace of technological developments. To address this, questions were included in the 2025 Global Monitoring Exercise to capture a snapshot of supervisory insights into current AI use cases and associated risks. Early findings from this work were published in the GIMAR mid-year update and further information will be published in Q4 2025.
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.
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: