Ai and algorithms in insurance – is the industry ready?

We’re hearing a lot about AI, but what about the critical building blocks, the algorithms, that insurers are starting to rely on to make decisions in underwriting and claims assessment without human intervention? Is the industry ready to delegate underwriting to machines?

On June 3rd, InsTech London hosted an event that aimed to answer some of the big questions about AI, algorithms and what makes them different, as well as the future ethical and legal ramifications of this technology.  

We heard from companies that are already successfully using algorithms to support risk definition, underwriting selection, claims and even the insurance of using algorithms themselves. Furthermore, InsTech London corporate members Norton Rose Fulbright and Barnett Waddingham shared their visions of the technology applications from the actuarial and legal perspective. 

Thanks goes to Ninety Consulting for sponsoring the event.

Keep an eye out for the event Podcast coming soon.

Podcast
Podcast 31. How humble is your algorithm? Talking to AIG, Cytora, WhenFresh and Polar Capital cover image

Podcast 31. How humble is your algorithm? Talking to AIG, Cytora, WhenFresh and Polar Capital

This week’s podcast features edited highlights of Matthew chatting on stage with leading figures from AIG, Cytora, WhenFresh and Polar Capital at our live event in The Steelyard.
Everyone’s talking...

Listen now 

I had a great time, I've had great feedback so far from other participants and I really enjoyed the evening.

Silvi Wompa - Chief Underwriting Officer, ChAI