Name: Algorithmic Underwriting in Specialty Insurance: An Implementation Guide
Start: 2022-03-15T14:00:00Z
End: 2022-03-15T14:00:42.000Z
Location: BrightTALK
Rating: 5

InsTech is the fastest growing community of people and companies working together to bring the best technology, data and analytics to solve today's insurance and risk management challenges. 
Based in the UK but with over 50% of our members accessing us from around the world, we are bringing together people from companies of all sizes in insurance, technology, risk management and investment. The primary roles of InsTech are 1) to help insurance companies find the best solutions to their needs, and 2) help technology companies find markets, investors and clients. We also offer individual membership and corporate membership. More details at www.instech.co

In 2023, flooding was the second largest driver of insured losses across the world. Providing accurate high-resolution flood models remains one of the most important yet complex jobs for natural catastrophe modellers.

But technological advancements are making this complicated flood data more and more accessible to insurers. JBA Risk Management has been providing insurers with global flood maps for over a decade.

Join us to explore the most important technological developments – including the use of artificial intelligence and heightened computing power – to see what this means for the insurance industry’s understanding of flood risk.

In this webinar we will discuss:
- The complexities of modelling flood risk
- How five key technological developments have shaped flood modelling
- What technology is likely to impact our understanding of flood risk in the future

Join us for a discussion with:
- Helen Smith, Director, JBA Risk Management
- Simon Waller, Executive Chair, JBA Risk Management

Moderated by Ali Smedley, Senior Research Analyst, InsTech

Continuing Professional Development
This InsTech Webinar is accredited by the Chartered Insurance Institute (CII). By watching, you can claim up to 0.5 hours towards your CPD scheme.

By the end of this Webinar, you should be able to meet the following Learning Objectives:
- Describe the evolution of flood risk modelling and some of the technological advancements driving innovation
- Explain the role of artificial intelligence (AI) in enhancing flood risk modelling accuracy and efficiency
- Summarise future trends in flood risk technology and assess emerging technologies poised to impact the future of flood risk assessment

A decade of discovery: 5 key developments in flood risk modelling

Unstructured data - is this a challenge that will ever go away? Or can it be a challenge which insurers adapt to work in their favour…

InsTech has gathered three leading USA industry experts to candidly discuss what change in the industry looks like to them, specifically in the way unstructured data is handled and managed. 

We all know streamlining underwriting processes and optimizing data intake and routing will aid with precise risk pricing, but how are the US’s biggest carriers approaching the problem?

Hear from Tokio Marine HCC, Allianz Commercial, and Zurich North America about pocketed digitisation, implementing best practices, moving blame away from the brokers and how generative AI can serve to repurpose the underwriter’s time for the better.

Key talking points include:
- What are the current challenges underwriters are facing 
- How is technology addressing issues with efficiencies
- The dichotomy between late-career and early-career underwriters - what can be learnt from this
- Technology adoption is an evolution
- Is too much data the problem? 
- The ‘art and science’ of underwriting 

Panel Speakers:

- Patrick Gallic, VP Business Innovation, Tokio Marine HCC
- Georgeanna Munger, Global Head of MidCorp Casualty & Underwriting Practices, Allianz Commercial
- Brad Craner, Head of Underwriting Design & Operational Capabilities, US National Accounts, Zurich North America
- Hosted by Robin Merttens, InsTech

How USA Insurers are overcoming underwriting challenges in 2024

Is your data playing hide-and-seek?

Imagine this - you have an unexpected risk emerging from a submission - such as a property found in another country. Data you need may come through unstandardised information brokers send to underwriters, leading to delays through review processes. 

Don’t let your data control your workflow.

Matthew Grant will be speaking with Bas de Goei at Instabase about how the Instabase platform can help optimise data extraction. 

Key talking points include:
- How you can control your data and your workflow
- A live demo of the Instabase platform
- Looking at data as though through a human

Speakers:
-Bas de Goei, Insurance Leader, Instabase
-Hosted by Matthew Grant, CEO, InsTech

Right here, right now - finding the right data for you

What makes an insurer pick your underwriting workbench?

Matthew Grant talks to Bevis Tetlow (CEO) and Viren Kataria (Chief Product Officer) of Imaginera to explore how the company's underwriting platform, Orca is supporting reinsurers and speciality insurers. 

From former underwriter Bevis, find out how Imaginera’s platform decided to tackle the challenges insurers face by improving insights and reducing friction for underwriting teams.

Key talking points include:

- Why companies such as Inigo, Conduit Re, Tamesis DUAL and Fidelis chose to work with Imaginera
- What problems does the Orca underwriting platform solve 
- How does Orca help underwriting teams understand their client and broker relationships
- How the configurability of Orca caters for the diversity in requirements seen by different classes of business

‘Orca’ the underwriting platform for the modern underwriting team

Insurance customers care about sustainability. More and more homeowners are considering a company’s green credentials before choosing their insurance provider.

Alongside this shift towards sustainability, it is becoming increasingly expected that an insurer’s role extends beyond just providing coverage. Customers are looking for more proactive support - so how can insurers help?

Technology company Gamma and insurer AXA have partnered to offer ‘Go Green’: a platform that provides tailored home retrofit suggestions to improve sustainability and reduce energy costs.

Join us to learn how Gamma works with insurers to support sustainable decision-making among policyholders, as well as a demo of the platform in action.

In this Live Chat we will discuss:
- How property data can be used to put sustainability into practice
- The benefits AXA has seen from providing policyholders with ‘Go Green’
- Why initiatives like this will become increasingly important for insurers

Join us for a discussion with:
- Richard Garry, Chief Commercial Officer, Gamma
- Murray Nolan, Product Manager, AXA Ireland
- Moderated by Ali Smedley, Senior Research Analyst, InsTech

From analysis to action: supporting sustainable decisions in home insurance

If your data could speak, what would it say?

The insurance industry has a notorious problem with scattered data. Generative AI is making a new type of knowledge management possible, acting as a second brain for all your knowledge.

AI-powered knowledge management can help you find new value in your data by uncovering hidden insights you may not have been aware of.

In our upcoming live chat, we will be speaking with Christopher Payne, CEO and Co-founder of myReach - a platform that connects various sources of information and allows you to ask questions in natural language, helping you find insights tailored to your needs.

In this Live Chat, discover how you can engage in conversation with your knowledge.

In this Live Chat we will discuss:
- Managing knowledge - why organisation is key
- How generative AI can help become your second brain
- The companies and industries myReach is working with
- How InsTech has used myReach to create a knowledge hub

Join us for a live chat with:
- Christopher Payne, Founder & CEO, myReach
- Hosted by Matthew Grant, CEO, InsTech

Knowledge unlocked: how to use an AI second brain

For over a year, insurers and brokers have known that generative AI has high potential to change how they operate. Now that many pilot projects have been tried, what are the proven use cases? What can companies do to get a real return on investment from AI?

Join us for a live webinar with guests who have grappled with AI strategy at insurers and brokers.

We'll be joined by:
- Simon Pink, UK Head of Emerging Technology - QBE Ventures
- Oliver Mapp, Data Science Lead - Inver Re (Ardonagh Group)
- Andre du Preez, Curator of MillerLabs - Miller Insurance

Continuing Professional Development
This InsTech Webinar is accredited by the Chartered Insurance Institute (CII). By watching, you can claim up to 0.5 hours towards your CPD scheme.

By the end of this Webinar, you should be able to meet the following Learning Objectives:
- Identify real-world use cases where generative AI has demonstrated a significant impact within the insurance industry
- Explain some of the ways to maximise return on investment from generative AI implementation in insurance operations
- Describe approaches to developing and implementing AI strategies specifically tailored for insurers and brokers

Generative AI - from experimentation to implementation

Two-thirds of underwriters say they can’t get all the data and information they need to make risk decisions quickly and efficiently*. (Re)insurers are increasingly looking to implement an underwriting workbench – a single place where underwriters can access all the tools, data and insights they need from submission to bind. But how do you choose which workbench is right for your company?

On 26 March, to coincide with the release of InsTech's latest report about the underwriting workbench landscape, we will be hosting a webinar to discuss implementation experiences and how insurers are using underwriter workbenches in 2024.

Download our latest report here: https://www.instech.co/knowledge-centre/from-data-to-decision-how-insurers-are-using-underwriter-workbenches-in-2024/

Speakers Include:
- Dani Katz, Co-Founder and Director - Optalitix
- Andy Moss, Co-Founder and CEO - Send
- John Bowers, CPO - AdvantageGo
- Hosted by Robin Merttens, Co-Founder - InsTech

Continuing Professional Development
This InsTech Webinar is accredited by the Chartered Insurance Institute (CII). By watching, you can claim up to 0.5 hours towards your CPD scheme.

By the end of this Webinar, you should be able to meet the following Learning Objectives:
- Describe some of the challenges underwriters face when accessing data and making risk decisions
- Summarise the benefits of utilising an underwriting workbench for an insurance company
- Explain how to approach the adoption of underwriting workbenches within an organisation

From data to decision: how insurers are using underwriter workbenches in 2024

Across the commercial insurance market, lots of time is spent on core processes, such as searching for information across emails and documents, and not enough time on the job at hand. 

This not only affects productivity but also harms morale. With insurers spending up to 40% of their time on admin tasks, it often leads to frustration.

For InsTech’s first Live Chat, join us for a fireside conversation between two insurance industry and wellbeing experts as they discuss how legacy systems and employee morale go hand-in-hand and what the industry can do in the future to change. 

In this Live Chat we will discuss:

- The hidden costs of legacy systems.
- Personal development – how can technology help insurers and brokers get the information they need more quickly and feel better about their work
- in data – what is the mission in insurance?

Join us for a live chat with:

- Ingrid Woodward, Holistic Wellbeing Consultant, Ingrid Woodward Consulting
- Ben Platts, VP Insurance & Solution Consulting, Insurants (powered by AntWorks)

Moderated by Henry Gale, Research and Insights Manager, InsTech

Drowning in documents: how to make working in insurance more rewarding

Women face unique challenges and obstacles in building their careers in insurance. A recent study has found that women make up less than 7% of CEOs in the UK insurance industry.

This International Women’s Day (Friday 8th March), we are bringing together four women working across insurance to discuss the stories behind their career growth, the various challenges they had to overcome and key insights into what they wish they had known earlier. 

The discussion will touch on ways the insurance sector can champion inclusivity, tackling issues with imposter syndrome in male-dominated spaces and how women can succeed in developing a successful career.

Join our expert insurance panel in an intimate and open conversation about being a woman in the industry:

- Ali Smedley, Senior Research Analyst, InsTech
- Jessica Farrow, Senior Client Underwriter, Vice President, Market Units P&C Reinsurance, Swiss Re
- Lauren Stables, Head of Digital Trading, Aurora
- Moderated by Mandy Hunt, Underwriting Community Board, Chartered Insurance Institute

Continuing Professional Development (CPD)
This InsTech Webinar is accredited by the Chartered Insurance Institute (CII). By watching, you can claim up to 0.5 hours towards your CPD scheme.

By the end of this Webinar, you should be able to meet the following Learning Objectives:
- Acquire strategies to identify and address impostor syndrome, building resilience to overcome barriers in the insurance industry
- Describe methods for effective communication techniques that enable the articulation of ideas with confidence and clarity in both formal and informal settings
- Identify skills to proactively engage in self-advocacy, empowering individuals to reach out for opportunities and build professional networks

Women Taking the Stage: Building Confidence to Shine

Whether in the US, the UK or anywhere in the world underwriters are overwhelmed by information and undermined by fragmented systems and processes. Too much time is spent on manually reviewing submissions that are hard to price accurately. Systems and workflows that enable rapid, accurate decisions are key to growing premiums and underwriting more profitably. In advance of our event in New York on 14th March we're exploring best practices from leading underwriters. Wherever you are in the world - how do you select the right tools to get the job done?

Join InsTech and guests as we discuss what insurers are doing to:

- Reduce time spent on admin and more time on risks that are in appetite
- Win more business by returning quotes to brokers quicker
- Identify and analyse the data you need to price risk accurately 
- How different tools can fit together to help you make decisions in half the time

Panel:

- Jonathan Wong, VP Underwriting, Arch Capital Group
- Zaheer Hooda, Head of North America, Cytora
- Richard Gunn, CRO, hyperexponential
- Moderated by Matthew Grant, InsTech

Continuing Professional Development (CPD)
This InsTech Webinar is accredited by the Chartered Insurance Institute (CII). By watching, you can claim up to 0.5 hours towards your CPD scheme.

By the end of this Webinar, you should be able to meet the following Learning Objectives:
- Identify some of the strategies or tools that can streamline underwriting processes
- Describe how the implementation of the tools or systems discussed can lead to a reduction in the time taken to assess risk
- Explain how a combination of different tools can be employed to gather and analyse data efficiently, resulting in more accurate decision-making

Overcoming data overload: the tools underwriters need to get the job done

2023 has seen political violence events across the world, including wars between Russia and Ukraine and between Israel and Hamas. These events have solidified geopolitical risk as a top concern for the insurance and risk management communities.

Understanding political violence is complex and requires granular data to get a true picture of any event as it unfolds; from what weapons were used to the motivation of a protest. This information can also be used to create a view of future risk - but where can you access these insights?

In this Webinar, InsTech’s Matthew Grant will be joined by S&P Global Market Intelligence:
- Paul McGrath, Product Director for 'Foresight'
- Hugo Foster, Associate Director, Open-source Intelligence

The discussion will cover how S&P Global Market Intelligence gathers and presents security incident intelligence and how organisations can use this data to better understand future risk.

Continuing Professional Development (CPD)
This InsTech Webinar is accredited by the Chartered Insurance Institute (CII). By watching, you can claim up to 0.5 hours towards your CPD scheme.

By the end of this Webinar, you should be able to meet the following Learning Objectives:
- Describe past examples of how political violence has affected different industries and operations
- Articulate the benefits of using a variety of data points to understand war, crime and terrorism events
- Explain how intelligence on political violence events can be used to create a view of future risk exposure

Visualising political violence risk - use event intel to understand exposure

Many organisations have large earthquake exposures where traditional insurance falls short. Key losses are excluded, high deductibles and claims take months or years to settle. In the last five years, many companies have turned to parametric insurance for tricky catastrophe risks. But how can you ensure the payout accurately reflects how a building was affected by an earthquake? In this webinar, InsTech's Matthew Grant will be joined by:
- Andy Thompson, CEO & Co-founder, Safehub
- Jean-Christophe Garaix, Head of Agriculture and Parametrics, Liberty Mutual Re
- Alejandro Solorzano, Head of Alternative Risk Transfer & Innovation, XS Global
- Henry Gale, Research and Insights Manager, InsTech

The discussion will cover the parametric earthquake insurance solution designed by Safehub, Liberty Mutual Re and XS Global, which uses sensor technology to trigger pay-outs.

Continuing Professional Development (CPD)
This InsTech Webinar is accredited by the Chartered Insurance Institute (CII). By watching, you can claim up to 0.5 hours towards your CPD scheme.

By the end of this Webinar, you should be able to meet the following Learning Objectives:
- Explain parametric insurance as an alternative to traditional coverage for earthquake risks, exploring its benefits and limitations in comparison to conventional insurance models
- Summarise some of the practical methods and tools to evaluate and ensure the accuracy of payouts in parametric insurance specifically related to earthquake exposures
- Describe a range of strategies for expediting the claims process in parametric insurance for earthquake-related losses

Trembling and Triggers - How Sensors are Closing Coverage Gaps in Earthquake Ins

Women in the insurance industry face many obstacles in rising to top leadership roles. One under-discussed challenge is managing the menopause transition while building a career. The physical and emotional changes during this time can impact women's work experiences and advancement. It is vital for the insurance sector to recognize how menopause affects employees and provide support.

This Webinar will examine the specific difficulties menopause poses for women in the insurance sector. It aims to update perspectives on how organizations can assist female employees in navigating this major life milestone. The goal is to foster an environment where women have the resources and understanding to thrive professionally through menopause and reach their highest leadership potential.

Join our panel for a straight-talk Webinar on navigating menopause in the insurance sector:
Ruth Polyblank, Mastercard's VP of Insurance, moderating, Sam White, CEO of Stella Insurance, Sue Flower, Director of Customer Success at RightIndem, Peter Blanc, Head of M&A, Howden Group Holdings .

 Continuing Professional Development
By the end of this event, you can claim up to 0.5 CPD hours toward your CII CPD scheme and should be able to meet the following Learning Objectives.

- Identify the unique challenges that menopause presents to women in the insurance sector, including both physical and emotional aspects
- Describe some of the effective organisational practices and policies to support women navigating menopause in the workplace
- Summarise a range of strategies for empowering women in the insurance industry to thrive professionally through the menopausal transition

Empowering Change - Retaining Women Through Menopause and Beyond

Flooding is the most pervasive and damaging natural hazard throughout the world. Insurers want to understand the risk to accurately price policies, decide which properties fall out of appetite and avoid concentrated aggregates.

Modelling flood is not easy, however. Model outputs can vary widely. In this LiveChat, InsTech’s Ali Smedley will be joined by Cory Isaacson, CEO and Co-founder at reThought Insurance, to explore how these challenges can be tackled.

Register here to learn more about the benefits of multiple views of risk, the different techniques for combining models and reThought Insurance’s approach to underwriting.

Continuing Professional Development
InsTech is accredited by The Chartered Insurance Institute (CII). By attending an InsTech Digital event, you can claim up to 0.5 CPD hours towards your CPD scheme.

For CPD purposes, the Learning Objectives for this Live Chat are:
- Describe what factors need to be considered when looking to model flood
- Explain why having multiple views of risk leads to better outcomes
- Articulate the benefits and challenges of ‘model blending’ and ‘model fusion’ techniques

Understanding flood risk - the different modelling approaches

To support the launch of the InsTech report, ‘Property Intelligence - understanding and managing natural hazards’, Matthew Grant and Ali Smedley are hosting a Live Chat to discuss the findings with Richard Garry, CCO from Gamma Location Intelligence, Deepak Badoni, Co-founder & President at EigenRisk and Judith Ellison, Business Development Manager from JBA Risk Management who have featured in the report.

The panel will discuss the different types of catastrophe models and hazard data available, the increasing importance of risk mitigation for both residential and commercial properties and what has changed since our first location intelligence report in 2021.

On 30th March the report will be available to download, free of charge.

Continuing Professional Development (CPD)
InsTech is accredited by The Chartered Insurance Institute (CII). By attending an InsTech Digital event, you can claim up to 0.5 CPD hours towards your CPD scheme.

By the end of this event, you should be able to meet the following Learning Objectives:
- Describe some of the different ways hazard data and analytics are being accessed
- Identify what data and technology can be used to manage and mitigate risk to properties
- Summarise how the catastrophe modelling and hazard data market has evolved in recent years

Property Intelligence - understanding and managing natural hazards

For most insurance organisations, there are manual elements to ingesting, processing and transferring data, which is time consuming and expensive.

InsTech’s report, ‘Automating processes and speeding up operations: 30 companies we know’, focuses on perspectives from the front line. What does the insurance industry need from data extraction and ingestion technologies and what does successful implementation look like?

To support the launch of the report, InsTech Senior Research Analyst Henry Gale will be hosting a Live Chat to discuss the findings and examine key future trends. He will be joined by a panel by  - 

Jenny Williams, Data Mission Lead, Convex
Oliver McGuiness, CEO, RightIndem
Mark Phillips, RVP Data and Analytics, Guidewire
Gaurav Iyer, Senior Vice President, and Head of Advanced Digital Solutions at EXL

Continuing Professional Development (CPD)
InsTech is accredited by The Chartered Insurance Institute (CII). By attending an InsTech Digital event, you can claim up to 0.5 CPD hours towards your CPD scheme.

By the end of this event, you should be able to meet the following Learning Objectives:
- Describe the challenges with ingesting, processing and transferring data in insurance
- Outline the capabilities of some technology providers offering data ingestion and extraction services
- Summarise the current and key future trends of data ingestion and extraction in insurance

Automating processes and speeding up operations: 30 companies we know

Parametric insurance models are playing an increasingly influential role in creating a sustainable world, with solutions that extend into climate, agricultural stability, clean energy, and other areas. This session will look at how a combination of blockchain technology, smart contracts, and third-party data is being used to develop an exciting range of innovative insurance solutions focused on sustainability, ESG, climate, and carbon markets.

There are a number of sessions and announcements on this subject planned for the World Economic Forum in January. Join us on this Live Chat to hear about what was discussed at Davos and to get a detailed look at the companies that made the announcements and the initiatives that they are developing. Robin is going to host the session and ask questions of a panel that comprises:

- Charlie Moore. Head of Carbon and Sustainability Solutions, Chainlink Labs
- Ruth Polyblank, VP and Partnerships Lead - Insurance, Mastercard
- Christoph Mussenbrock, CEO and Founder, Etherisc

This event is sponsored by Chainlink Labs which provides blockchain middleware that enables organisations in the carbon ecosystem to securely connect their existing systems, processes, and data to the blockchain economy.

Continuing Professional Development (CPD)
InsTech is accredited by The Chartered Insurance Institute (CII). By attending an InsTech Digital event, you can claim up to 0.5 CPD hours towards your CPD scheme.

By the end of this event, you should be able to meet the following Learning Objectives:
- Outline some of the various sustainability issues which parametric insurance models can contribute to solving
- Explain how a range of technologies are being used to develop insurance solutions surrounding carbon and sustainability
- Summarise the announcements and initiatives from World Economic Forum 2023 that impact carbon and sustainability insurance solutions

Insights from the World Economic Forum 2023

To support the launch of the InsTech London report 'Algorithmic Underwriting in Specialty Insurance: An Implementation Guide in Six Case Studies', Robin Merttens will be hosting a Live Chat to discuss the findings in our report. The panel will examine the key themes that emerge from the case studies provided by Vave, Ki Syndicate, ReThink, Verisk Specialty Business Solutions, Guidewire and Artificial Labs/Chaucer. Topics will include project initiation, build or buy, how to achieve data mastery, the war for relevant talent, how the role of the broker changes in an algorithmic world, and what lies ahead. Robin will be joined by David King, Founder of Artificial Labs, Marek Shafer, Managing Director of Vave, and Dan Prince CEO of Rethink Underwriting. 

Join us on 15 March at 2 pm to learn more about one of the most discussed topics in insurance today.

The Learning Objectives for this event are:
- Outline how to implement algorithmic underwriting from project initiation to achieving data proficiency
- Identify what the broker’s role is when it comes to algorithmic underwriting
- Describe some potential scenarios for the future of algorithmic underwriting in specialty insurance

Algorithmic Underwriting in Specialty Insurance: An Implementation Guide

Algorithm

Data Analysis

Innovation

instech

Insurance

Insurtech

specialty

Technology

Underwriting

Get powerful emerging technology insights from influential experts. Connect with thought leaders and colleagues to get the most up-to-date knowledge on technologies like 3D printing, pervasive robotics, natural interfaces, connected everything and cognitive systems.

Emerging Technologies

The research and development community on BrightTALK brings together leading professionals in healthcare, technology and manufacturing to present on current topics in their fields. From big data in healthcare to online forensics training and medical research practices, the community is an exceptional resource for those looking to expand their knowledge. Be part of the conversation by joining the community and participating in interactive live webinars.

Research and Development

Join this new, vibrant community to learn and connect with top thought leaders, startups and banks who are disrupting the financial services industry. Keep up with the latest news and trends in Fintech and take part in lively debates on topical issues and challenges.

Fintech

The accounting and finance community on BrightTALK features presentations from leading accountants and finance professionals. The accounting community includes tax planning strategies, QuickBooks webinars and other accounting webinars, while the finance community features presentations on financial capital regulations and forensic data analytics. Join the conversation by attending live financial and accounting presentations and connecting with industry thought leaders.

Finance

Leadership styles are continually evolving to incorporate new ways of thinking about employee satisfaction, motivation and performance. Find webinars and videos on the strategies, techniques and qualities that make an effective leader. By participating in this community you will gain insight into current leadership theories and how to optimize employee performance.

Leadership

Get powerful insights to run your business. CEOs, CFOs, CMOs, COOs, CTOs and CIOs are among the leaders in this community who connect with peers and experts to grow their businesses.

CxO Strategy

In the business management community, commercial experts will be sharing webinars and videos on an array of subjects. From sales and marketing, to finance, productivity and growth, this content will help you stay up-to-date with the current economic environment and provide timely management insight to drive business growth.

Algorithmic Underwriting in Specialty Insurance: An Implementation Guide

Presented by

About this talk

More from this channel