AI
Artificial intelligence meets specialized risk management
Understand operational risks and insure them correctly!
Insurance solutions for tech companies
New technologies require innovative insurance concepts. For AI software developers in particular, this raises the fundamental question of liability and the legal situation as a whole. New regulations and a lack of case law mean that insurers are sometimes unable to assess the risks correctly and tend to exclude too much than necessary. In the event of a claim, this can lead to the loss of insurance cover for AI developers.
Past projects of our experts included setting up insurance programs for leading AI players in Europe!
Given the unpredictable economics and competition in this field (see DeepSeek etc.) and a dynamic regulatory landscape, AI companies especially need good liability, cyber and D&O insurance programs. Our dedicated and experienced team focuses exclusively on comprehensive insurance solutions for tech companies.
This allows us to:
- Understand your risks better than our competitors
- Negotiate your risks better with the appropriate insurers (we are connected with all relevant insurers and underwriters in the German and London insurance market and offer a specialized network of brokers worldwide)
- Support in the event of a claim through know-how and experience - this is precisely where we can stand out as the only in-depth specialist insurance broker in Germany and provide support with our team and our network
Strategic risk management for AI companies
Our strategic approach for AI companies is to develop long-term insurance programs, because a good relationship between customer and insurer is paramount in the event of a claim in order to achieve the best outcome. Measures for this include:
- Risk analysis and contract negotiation
- Contract management
- Checking your contracts with your customers for compliance with insurance requirements
- Transparent and customized insurance cover
- Negotiation of premium rates with insurers to take account of long-term growth strategies
- Regular review of insurance policies as part of an active renewal process
Why blanket exclusions are dangerous for the quality of cover when negotiating insurance contracts
Particularly in the case of software manufacturers of general models, tools and agents, insurers often exclude sectors with very general formulations from the insurance cover. However, this can sometimes lead to large parts of the insurance cover being undermined if, for example, financial institutions and financial service providers are excluded, but AI tools are then used in their administration and there is no insurance cover for this either. There is also the risk that, after the contract has been concluded, customers are acquired in sectors that were not yet part of the target customer groups when the liability insurance policy was concluded. If this is not reported to the insurer, insurance cover can also be denied if this was not properly regulated in the contract.
We support you in proactive risk management and the development of transparent insurance programs and reporting processes! Please contact us for a non-binding discussion
What insurance do AI companies need?
With so many different insurance products on the market, companies often find it difficult to choose the right insurance cover. On the one hand, this is due to a lack of knowledge about which insurance policies are actually available and, on the other, a lack of time to deal with the complex issue of risk transfer in depth.
So you need experts to support and advise you. But non-specialized insurance brokers or agents are often not familiar enough with the subject and recommend standard policies from well-known insurers. These are often flawed for your company.
The most important insurance policies that we can support you with and that we ourselves develop from a market-leading customer perspective include
- Tech-E&O insurance /AI-Insurance:
Suitable liability insurance is essential for technology-oriented companies - but traditional public liability insurance is not enough, especially for software developers. High-performance financial loss liability insurance based on high-quality broker wording and individually tailored to the specific requirements of your company is crucial. It is important to take into account industry-specific risks as well as special customer or country requirements for the insurance cover. This applies in particular to the use of artificial intelligence: errors, underperformance or discriminatory decisions by AI systems can lead to considerable financial and legal risks. A specialized insurance solution offers protection here.
- D&O insurance:
AI developments are often very capital-intensive, so investors are in demand. However, employee participation programs or the risk of strategic mistakes by management also increase the need for good D&O insurance cover. However, this is sometimes difficult to obtain on the market, particularly for companies that have a high cash burn or need longer to break even - especially with the required sums insured. Insolvency and restructuring exclusions or other restrictions on insurance cover are the result and often remain undiscovered after the insurance contract has been concluded until a claim occurs. With our D&O network and the know-how of our experts, we develop individual, international D&O programs based on our own market-leading D&O terms and conditions (Risk Partners D&O Prime Protect).
- Cyber insurance:
From the violation of personal rights or data protection to liability claims from customers after you have been hacked - including the subsequent business interruption - is covered by a good cyber insurance policy. However, the insurance market is highly heterogeneous when it comes to the quality of insurance cover. From insurers who offer incident response themselves, to those who use service providers, to providers who leave the choice of your service providers up to you - the offers also differ significantly in terms of details and sublimits. We help you navigate through the insurance jungle and find the right insurance cover for you - always with the "quality first" approach and your wishes in focus. This is also based on our own market-leading insurance conditions (Risk Partners Technology Cyber Protect).
Contract review by our Risk Partners specialists
At Risk Partners Technology, we understand the need to help our clients minimize and transfer risk through a thorough contract review. We work with you to help you understand the risks assumed in each business partner contract, how each risk fits within your risk tolerance and how your risk transfer insurance program works.
With a training call, we are happy to prepare your procurement or sales team for contract negotiations regarding the insurance clauses with your business partners.
Our approach
Next steps
1.
2.
3.
Feel free to contact our experts for a non-binding consultation!