Saifr, an artificial intelligence firm incubated by Fidelity Labs, has launched a new AI agent designed to help insurance companies streamline their advertising compliance processes for life insurance and annuity products. The tool addresses the growing need for efficient and accurate review of marketing materials in the insurance industry.
The AI agent uses guidelines from the National Association of Insurance Commissioners (NAIC) to identify potentially noncompliant content in marketing materials. Saifr plans to expand the tool’s capabilities to cover state-level rules in the future. The agent is designed to support both marketing and compliance teams by flagging issues such as misrepresentations or missing disclosures. It not only identifies potential compliance risks but also explains the reasoning behind its alerts and provides recommendations for improvement.
A key feature of the AI agent is that it keeps human experts in control of final outputs. While the tool automates the initial review process, it allows compliance professionals to review and validate its findings. This hybrid approach enables insurance companies to handle lower-level risks early in the process, reducing the back-and-forth between marketing and compliance teams.
The AI agent is accessible through various integration methods, including API, software add-ins, and Saifr’s platform, SaifrReview®. By improving the efficiency and consistency of compliance reviews, the tool helps insurance companies manage regulatory risk more effectively.
This launch builds on Saifr’s existing RegTech suite, which already supports broker-dealers and investment advisors. According to Saifr CEO Vall Herard, “Currently, insurers often manually review each document without tools that can enhance precision, which is time-consuming and can contribute to variance across materials. Saifr’s expanded AI capabilities promote consistency throughout compliance reviews of life insurance and annuities advertising, empowering compliance and marketing teams to focus on higher-value, more complex projects while efficiently managing risk.”
The introduction of this AI agent represents a significant step forward in the InsurTech sector, where regulatory compliance remains a critical challenge for companies. By leveraging AI technology, Saifr is helping insurance companies navigate the complex regulatory landscape more effectively.
