Our Mission
Enable safe AI innovation by certifying and insuring AI systems for businesses worldwide
Our Story
OakCover was founded to solve a critical problem: as businesses rapidly adopt AI, they face unprecedented risks that traditional insurers will not cover. Major insurance providers are increasingly excluding AI as "too much of a black box," leaving companies vulnerable to catastrophic losses from AI failures, bias, and misuse.
We recognised that AI introduces unique liabilities that require specialised expertise and protection. A generative AI's mistake led to a $110 million defamation lawsuit. Deepfake technology enabled a $25 million fraud. Algorithmic bias has resulted in discrimination claims and regulatory fines. These aren't hypothetical risks—they're happening now, and traditional insurance policies explicitly exclude them.
OakCover was built to fill this protection gap. Our mission is to enable safe AI innovation by certifying and insuring AI systems for businesses. We combine rigorous AI certification with insurance backed by established insurers, turning AI's unpredictability into something quantifiable and manageable.
We're positioning OakCover at the forefront of a nascent market. Our guiding principle—our "north star"—is to be the trusted safety net for AI, so companies can innovate without fear.
The Problem We're Solving
Traditional insurance models were not designed for AI risks. They struggle with:
- Algorithm errors causing financial losses and business disruption
- AI-generated misinformation leading to defamation and legal claims
- Algorithmic bias resulting in discrimination lawsuits and regulatory fines
- Data breaches when AI systems compromise sensitive information
- Operational failures from AI system downtime or incorrect outputs
- Compliance violations in regulated industries like finance
General insurance policies now include "AI exclusions" that leave businesses unprotected. OakCover offers explicit, comprehensive certification and insurance for these AI-specific risks, with higher limits and broader coverage than general insurers' minimal AI endorsements.
What Drives Us
Market Leadership
We're shaping how AI risks are protected in the coming years, positioning OakCover as a leader in a space where innovation in AI certification and insurance is needed and starting to emerge.
Tech-Forward Approach
We use AI to assess and monitor risk continuously, turning AI's unpredictability into something quantifiable and manageable.
Comprehensive Coverage
We welcome the risks others exclude, offering explicit protection for AI-related liabilities where general policies have "AI exclusions."
Rapid Growth Market
With accelerating demand for AI certification and insurance, OakCover's proactive and user-centric approach is positioned to capture significant market share.
Our Platforms
We've built two complementary platforms to serve the AI risk ecosystem:
For Businesses
Our AI risk and quality management platform helps companies build and operate the Risk Management System (RMS) and Quality Management System (QMS) expected under the EU AI Act—register systems, track risk across the lifecycle, document controls, and manage certification and insurance in one place.
Meet Our Founders
Vadim Toader
Co-founder & CEO
Vadim brings years of experience in financial services and a deep understanding of risk management. He recognised the critical gap in AI risk protection and founded OakCover to protect businesses as they innovate with AI. His vision drives our mission to make AI risk certification and insurance accessible and comprehensive for companies at every stage of AI adoption.
Stefan Boronea
Co-founder & CTO
Stefan is an AI and machine learning expert who saw firsthand how traditional insurance models fail to address AI risks. He leads OakCover's technology development, building AI-powered assessment systems that can assess and monitor AI risks in real-time. His innovative approach is revolutionising how AI-related risks are quantified and protected.
OakCover Ltd is registered in England and Wales (Company No. 16948043)