‘Embracing AI-driven insights and automation is crucial for the industry to drive a competitive path towards underwriting profitability that adapts to evolving risk dynamics,’ says global leader
’Our platform not only alleviates the administrative burden on brokers, but also improves the underwriting process,’ says chief commercial officer
Kevin Perkins, technical lead and operations manager at Carpenters Group, considers the impact of artificial intelligence on insurance fraud
Although data science has been a huge help to the insurance industry, it brings its own risks too and insurers must ‘understand the risks rather than go in blindly’, according to data science lead
’If you have data science in your business and start to get under the skin of that, you can make big changes to your underwriting result,’ says chief executive
Asking SMEs to buy cyber insurance is ’like asking them to voluntarily buy a culture change’, says cyber chief executive
’The lab’s recent success with region specific themes further validates the work of the lab,’ says senior manager
The insurer has approximately 800 external users on its platform
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AI and advanced data analytics are already making waves in the insurance sector. Insurance Times interviews five industry experts to delve into their perspectives on the significance of this technological transformation for the industry.
’The future is going to get a lot faster and more productive in an exponential way,’ says group chief information and digital officer
’The real risks are with the use of AI, not with the technology itself,’ says chief executive
It is imperative to embrace the opportunities AI can offer in terms of back office functionality, but insurance professionals shouldn’t fear for their jobs just yet
’AI brings tremendous opportunities to improve the ways we work,’ says chief information and digital officer
In 2023 we launched our inaugural Insurtech 50 report, produced exclusively by Insurance Times and based on data provided by business management consultancy Oxbow Partners.
This report collates a portfolio of the 50 most innovative UKGI insurtechs that insurers and brokers should have on their partnership radar, based on specific criteria defined by Insurance Times to reflect the needs and interests of our readership.