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AIGG: Driving Responsible AI Adoption in Insurance

Author

Kartik Sakthivel, Ph.D., MS-IT/MS-CS, MBA, PGC-IQ
Vice President & Chief Information Officer and Regional Chief Executive Officer – Asia West
LIMRA and LOMA
ksakthivel@limra.com

October 2025

During the past 18 months, the LIMRA and LOMA artificial intelligence (AI) industry group, known as the AI Governance Group (AIGG), has been at the forefront of helping life insurance and financial services companies navigate the complex and rapidly evolving landscape of AI. Formed to promote safe, scalable and ethical AI adoption, the AIGG has developed a library of resources and tools designed to empower organizations at every stage of their AI journey.

A Collaborative Effort

The AIGG is composed of over 140 business and technology executives from more than 50 member companies across the United States, Canada and Latin America. This diverse group brings deep expertise and shared experiences to address common challenges in AI implementation. Their mission is clear: educate, establish benchmarks, develop industry standards, build common frameworks, and foster collaboration that enhances customer experience, productivity, and profitability across the industry.

The AIGG recognizes and addresses the urgency of AI’s impact. It prioritizes collective problem-solving, eliminating the need for individual insurance carriers and ecosystem providers from developing AI tools, frameworks and standards in isolation.

Real-World Impact

To date, the AIGG has developed several actionable insights for the industry. These include AI governance best practices; AI and cybersecurity: a framework to help carriers make build-versus-buy-versus-partner decisions; demystifying AI agents and agentic AI, and more. Among the most impactful resources released by the AIGG are the Turnkey Templates and Strategic Guides. These frameworks help companies — whether building AI in-house or working with vendors — evaluate the costs, benefits and risks of AI adoption. They are especially valuable for small- to midsize firms, offering ready-to-use solutions that can be customized to meet specific organizational needs.

Key tools include:

  • Cost-Benefit Analysis Templates: Help leaders assess the financial and operational implications of AI initiatives.
  • AI Implementation Frameworks: Tailored guides for deploying traditional AI and generative AI, whether developed internally or sourced from third parties.
  • Governance and Policy Resources: Including a GenAI Use Policy Template and a Corporate AI Governance Policy to ensure ethical and compliant AI usage.
  • AI Automation Identification Framework: Assists in pinpointing tasks and roles most likely to be impacted by AI, enabling proactive workforce planning.
  • AI ROI Calculator: Helps organizations calculate the return on investment (ROI) for AI used in customer service operations.

Practical Applications for Companies

Companies can use these resources in several ways:

  • Deploy frameworks with minimal modification for quick implementation
  • Tailor templates to align with specific business models and goals
  • Merge industry standards with existing internal processes
  • Adapt frameworks to meet evolving needs and share improvements with the broader industry

This open-source philosophy encourages firms to contribute to the AIGG, fostering a cycle of continuous improvement and shared success.

Industry Standards

To support responsible AI adoption, the AIGG has developed several industry standards. These include:

  • AI Risk Classification Model provides a structured approach to AI governance
  • AI Risk Evaluation Framework helps firms categorize AI initiatives based on risk
  • GenAI Safe Use Policy offers guidance for ethical and compliant AI deployment

Looking Ahead

The AIGG isn’t slowing down. With a robust roadmap extending into 2026, the group is now focusing on emerging areas like agentic AI — AI systems capable of autonomous decision making — and AI agents, which represent a new frontier in customer interaction and operational efficiency.

To support these efforts, the AIGG is forming specialized subcommittees and plans to release updated frameworks that reflect the latest industry needs and innovations. These initiatives will also explore the ethical dimensions of autonomous AI, ensuring that as capabilities grow, so does accountability.

Why It Matters

AI is transforming the insurance and financial services sectors faster than any previous technological wave. The LIMRA and LOMA AIGG is ensuring that this transformation is not only effective but also responsible. By providing tools that prioritize fairness, accountability and transparency, the AIGG helps companies modernize while maintaining trust and compliance.

The insurance industry is uniquely positioned to benefit from responsible AI adoption due to its data-intensive nature and reliance on predictive analytics. By integrating AI into core functions such as underwriting, claims management, and customer engagement, insurers can achieve greater accuracy, efficiency, and personalization. However, this transformation must be guided by ethical principles to avoid unintended consequences, such as biased decision making or data privacy concerns.

Looking to the future, the evolution of AI technologies such as agentic AI and AI agents will redefine how insurers interact with customers and manage operations. These intelligent systems have the potential to autonomously handle complex tasks, offering real-time insights and adaptive solutions. As these technologies mature, the industry must remain vigilant in assessing their impact and ensuring they align with ethical standards.

Ultimately, the responsible adoption of AI is not just a technological imperative — it is a strategic necessity. By embracing collaborative frameworks and forward-thinking governance, the insurance sector can harness AI’s potential while safeguarding its values and stakeholders.

For organizations looking to begin or refine their AI journey, the LIMRA and LOMA AI Tools and Resources page offers a vital starting point. It provides everything from strategic guides to educational media and webinars, all designed to help firms make informed, ethical and impactful decisions.

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