Executive summary: An insurance-for-AI startup could incentivize safer AI practices and provide valuable risk insights, but faces challenges in market timing, industry connections, and securing reinsurance partners.
Key points:
The proposed startup would offer professional indemnity insurance for AI legal work, potentially expanding to other industries.
Challenges include slow industry movement, lack of claims history for AI, and difficulty securing reinsurance partners.
Customer demand exists among some AI-for-law companies, but many potential customers are not yet deploying AI in high-stakes use cases.
Pricing AI risk would involve comparing AI and human work samples, with adjustments for unknown factors.
Alternative approaches include partnering with AI labs/Big Tech as reinsurers or focusing on selling risk models.
The authors decided not to pursue the idea due to timeline concerns and lack of industry connections, but believe it remains promising for the right team.
This comment was auto-generated by the EA Forum Team. Feel free to point out issues with this summary by replying to the comment, andcontact us if you have feedback.
Executive summary: An insurance-for-AI startup could incentivize safer AI practices and provide valuable risk insights, but faces challenges in market timing, industry connections, and securing reinsurance partners.
Key points:
The proposed startup would offer professional indemnity insurance for AI legal work, potentially expanding to other industries.
Challenges include slow industry movement, lack of claims history for AI, and difficulty securing reinsurance partners.
Customer demand exists among some AI-for-law companies, but many potential customers are not yet deploying AI in high-stakes use cases.
Pricing AI risk would involve comparing AI and human work samples, with adjustments for unknown factors.
Alternative approaches include partnering with AI labs/Big Tech as reinsurers or focusing on selling risk models.
The authors decided not to pursue the idea due to timeline concerns and lack of industry connections, but believe it remains promising for the right team.
This comment was auto-generated by the EA Forum Team. Feel free to point out issues with this summary by replying to the comment, and contact us if you have feedback.