Willis Urges AI Governance Frameworks as Cybercrime Costs Hit $10.5 Trillion
WTW•WTW’s new Risk and Resilience review reveals AI systems used by over 700 million people weekly are reshaping underwriting, claims and cyber defence while creating accountability and insurability challenges. The report highlights a market split between traditional policy reliance and affirmative AI coverage as cybercrime costs surge to $10.5 trillion.
1. Rapid AI Embedding
WTW’s latest Risk and Resilience review shows AI systems used weekly by over 700 million people are now integral to underwriting, claims and cyber defence, reshaping risk pricing and expanding exposure across multiple insurance lines.
2. Diverging Industry Approaches
Insurers and brokers are split between relying on traditional policy wording that assumes silent AI use and those adopting affirmative AI coverage with stricter governance requirements, driving a market shift toward clearer AI risk products.
3. Governance and Liability Imperatives
As AI-generated decisions become pervasive, accountability and insurability challenges now span legal doctrines, regulation and operational oversight, elevating AI from a technology concern to a core risk management issue.
4. Strategic Opportunity for WTW
By advocating robust AI governance frameworks and control mechanisms, WTW positions itself to guide clients through accountability gaps and capture growth in AI risk consulting and insurance product development.




