Model Inventory
A documented list of all models and AI systems in use, including their purpose, owners, risk tier, and validation status.
A model inventory is a documented list of every model or AI system an organization uses. A complete inventory records what each system does, who owns it, what business line it serves, what data it uses, how risky it is, and when it was last validated.
The NAIC AI Evaluation Tool starts with Exhibit A, which asks for an inventory of AI systems. A carrier that cannot produce a complete inventory cannot credibly claim to govern its AI. The inventory is also where shadow AI is caught: tools that business units use but IT or compliance do not know about.
A good inventory is a living document. It should be updated when new systems are deployed, when existing systems change, and when systems are retired. See our glossary entries on shadow AI, Exhibit A, and the AI Systems Program.