AI Solutions (EIS) Successfully Earns ISO 42001 Certification for AI Management System (AIMS)

In a significant step towards responsible AI deployment, EIS, a leading cloud-native insurance core platform provider, has been awarded the ISO/IEC 42001 certification. This makes EIS the first company in its sector to earn this prestigious accolade, demonstrating a strong commitment to ethical, transparent, and responsible AI use.

The ISO/IEC 42001 certification is the world's first international standard specifically designed for Artificial Intelligence Management Systems (AIMS). It provides a comprehensive framework for establishing, implementing, maintaining, and continually improving AI systems in a responsible, ethical, and transparent manner. Key areas of focus include risk management, bias mitigation, data protection, accountability, and transparency.

This certification underscores EIS's proactive approach to addressing data protection, bias mitigation, and AI accountability. The company's achievement reflects a culture of continuous improvement and proactive management of critical AI concerns. The openness and data fluidity of EIS's platform have enabled the company to embed and operationalize AI across the entire insurance lifecycle.

Governance of AI responsibly is a crucial aspect of the ISO/IEC 42001 standard. It extends traditional management system cycles (Plan-Do-Check-Act) to AI, requiring leadership commitment, clear policies, roles, and continual improvement processes. Organizations must also conduct documented AI risk and impact assessments before and after deployment to minimize harm and ensure responsible use.

Achieving this certifiable standard allows EIS to prove compliance with internationally recognized ethical AI practices to clients, regulators, and auditors. It strengthens stakeholder confidence by embedding ethical principles and transparency in all AI activities. This certification underlines EIS's pioneering culture and its focus on developing AI technologies that maintain integrity and trustworthiness in a rapidly evolving technological landscape.

Mike Dwyer, CTO of EIS, emphasized that this certification is a proud milestone for the company and reflects its commitment to the ethical development of transformative technologies. The engagement management and SOC services were provided by CyberGuard Advantage LLP, while the certification services were provided by CPSI Certifications, the Management Systems Certification Body.

EIS's leadership supported the certification and audit journey, leading the transformation of the insurance market with its cloud-native, event-driven core platform EIS OneSuiteTM. The company's dedication to ethical AI practices is evident in its achievement, signalling a clear commitment to the protection of all stakeholders impacted by AI technologies.

Elsewhere in the industry, other companies are also demonstrating their commitment to responsible AI practices. For instance, Insly, a low-code software provider to the insurance industry, has been awarded both ISO/IEC 27001 and ISO/IEC 27017 certifications, demonstrating the company's commitment to security across its operations. Similarly, Corlytics, a RegTech leader, has become the first RegTech firm to achieve the ISO/IEC 42001:2023 certification for its business-wide AI management system.

Ondo Insurtech Plc has also been awarded the ISO/IEC 27001:2022 (ISO 27001) certification, a global security standard for information security management systems. These achievements underscore the growing importance of ethical, transparent, and responsible AI practices across various industries.

In summary, the ISO/IEC 42001 certification helps organizations reinforce trustworthy AI deployment frameworks aligned with emerging global regulations. EIS's achievement signals its leadership in ethical AI governance within the insurance industry and a clear commitment to the protection of all stakeholders impacted by AI technologies.

The achievement of the ISO/IEC 42001 certification by EIS showcases its commitment to embedding ethical principles and transparency in all AI activities, which is essential for responsible AI deployment.
Other companies in the industry, such as Insly and Corlytics, are also demonstrating their dedication to responsible AI practices, having received ISO/IEC 27001, ISO/IEC 27017, and ISO/IEC 42001:2023 certifications.
The ISO/IEC 42001 certification serves as a benchmark for organizations to prove compliance with internationally recognized ethical AI practices, thereby strengthening stakeholder confidence in their AI activities.

AI Solutions (EIS) Successfully Earns ISO 42001 Certification for AI Management System (AIMS)