When AI meets insurance, the conversation usually circles around speed, accuracy, and cost savings. But Concirrus, a London-based insurtech, just made a strong case that trust may soon be the defining metric. The company has become the first in its industry to achieve three heavyweight certifications at once: ISO/IEC 42001 (AI Governance), ISO/IEC 27001 (Information Security), and SOC 2 compliance.

That’s a triple milestone no other insurtech has claimed—and it puts Concirrus in rare company among AI-first enterprises.

Why It Matters

AI adoption in insurance is accelerating, particularly in underwriting and claims automation. But as regulators and brokers press for transparency and accountability, the pressure to prove responsible AI practices is mounting. Concirrus’ certifications amount to a preemptive strike—arming it with credibility as insurers scrutinize both risk and regulatory exposure.

ISO/IEC 42001 is especially noteworthy. Published in December 2023, it’s the world’s first AI management system standard, offering a global playbook for responsible AI. By being early, Concirrus signals not only technical leadership but also a keen read of regulatory winds. Combine that with ISO/IEC 27001 and SOC 2, and the company effectively checks every box in security, privacy, and governance.

“Success in insurance isn’t just about speed and accuracy, but also trust,” CEO Andy Yeoman said, adding that Concirrus wants to be seen not just as an innovator but as a standard-bearer.

Industry Context

Most insurtechs tout efficiency—faster quotes, smoother claims—but few can point to this level of oversight. Competitors racing to deploy AI-driven underwriting may now face tougher questions from clients and regulators: If Concirrus can prove AI governance and compliance, why can’t you?

The move also echoes broader fintech trends. Banks and payments firms are already under regulatory microscopes for their AI use, and insurance is quickly following. For brokers and underwriters wary of “black-box” algorithms, Concirrus’ certifications may act as a differentiator—reducing perceived risk of AI adoption.

What’s Next

The certifications were independently audited, ensuring that Concirrus’ claims aren’t just marketing gloss. For clients, this translates into faster claim automation and underwriting—with a security and compliance story strong enough to reassure even the most risk-averse stakeholders.

As Chief Product and Strategy Officer Ruth Polyblank put it, the “triple crown” eliminates uncertainty: “Clients can innovate with confidence.”

Whether rivals follow suit—or regulators demand they do—remains the open question. But for now, Concirrus has planted a flag as the first insurtech with audited proof of trustworthy AI.