Aon says more than 90% of potential AI coverage remains unclear, leaving companies uncertain which policies would respond when AI causes harm.
Aon launched AI Risk Diagnostic, a company-wide assessment tool that measures weaknesses in how organizations govern AI and connects those gaps to potential losses and insurance coverage.
The assessment looks at how a company approves, uses, and monitors AI, then identifies where weak controls could lead to losses or insurance gaps.
Companies complete a secure questionnaire covering how they approve, use, and monitor AI. Aon then evaluates the responses against standards and rules that include guidance from the National Institute of Standards and Technology (NIST), the European Union’s AI Act, and the International Organization for Standardization (ISO).
The assessment gives companies a company-wide view of where weak AI controls create the greatest financial and insurance exposure, helping leaders decide which risks need attention first.
Two views of AI risk
The diagnostic assesses a company from two directions.
The first measures how developed its AI governance, approval processes, and controls are. The second identifies where AI could create new risks or make existing risks worse.
That approach can show, for example, whether a company has rules for approving AI systems but lacks adequate monitoring after they are put into use. It can also identify which business operations face the greatest exposure if an AI system fails, produces inaccurate information, or uses sensitive data improperly.
Aon said the assessment can help companies explain their AI risk position to regulators, boards, and other internal stakeholders. It can also identify areas that may need immediate attention. The diagnostic does not determine whether an insurance claim will be covered.
The diagnostic is one step in Aon’s broader process for assessing and managing AI risk. Aon says it helps companies estimate the likelihood and potential cost of AI-related losses before they decide which risks to reduce, retain and/or insure.
