ASIC research maps AI spreading through underwriting and claims
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ASIC research maps AI spreading through underwriting and claims

ASIC has released new research on financial system innovation, and the AI finding deserves more attention than the headline. The [Innovation in Financial Technology and RegTech report](https://www.asic.gov.au/about-asic/news-centre/find-a-media-release/2026-releases/26-102mr-australia-well-placed-to-unlock-opportunities-from-innovation-in-the-financial-system/), conducted by the Digital Finance Cooperative Research Centre, finds AI becoming embedded in credit underwriting, claims processing, portfolio management and disclosure. That list is the point. These are core decisioning functions, not edge pilots, and each carries consumer outcomes a regulator can test. Chair Joe Longo framed the posture: "ASIC's role is to make sure that when innovation happens, it happens safely and responsibly, with the wellbeing of end consumers at the forefront." The release leans optimistic, noting Australian startups raised over $5 billion in venture capital in 2025, the third-best year on record, with strength in payments infrastructure. Next steps are principles-based regulation through regulatory simplification and industry engagement via the Digital Finance Advisory Panel and targeted roundtables. For risk teams, the message is simple: if AI sits in your underwriting or claims chain, assume ASIC now knows it does.

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