InsTech

🚀 Did you miss our last evening event on the #art of intelligent underwriting journeys? Ed Birchall discusses how Nuix leverages #AI to address critical challenges like data breaches and regulatory compliance. To view the full panel and more view here 🔶: https://lnkd.in/eXV4AYaD At InsTech's last exploration into underwriting innovation, the conversation highlighted a transformative shift in our industry. Here's what you need to know: 💡 The Power of Intelligent Automation AI and data-driven tools are removing repetitive tasks from the underwriting process, letting professionals focus on higher-value decision-making. Think reduced turnaround times and increased accuracy. 💡 Trusting the Machines Building trust in AI-powered systems is key. The focus is on explainable AI models that provide transparency alongside efficiency, helping insurers make smarter, fairer decisions. 💡 Underwriter Workbenches Modern platforms are centralizing data, risk scoring, and decision tools, providing underwriters with a seamless experience. The result? Faster workflows and less operational drag. 💡 Empowering Digitally Enabled MGAs MGAs are embracing end-to-end digital solutions that combine data analytics and underwriting expertise, paving the way for better risk segmentation and market agility. Question for you: How is your team adapting to this shift? Are you leveraging automation, AI, or enhanced data analytics to drive underwriting success? Share your thoughts or experiences below! 👇 Speakers from the other panels include: Katie Sutton, James Griffin, Paul Prendergast, Anthony Borgman, Chris Thompson, Charlie Palmer, Graham Elliott, Natalie Pope, John Somerset-Irving, Lisa Renton-Ahmadi, Ana Yang Ling, Matt Hicks and Robin Merttens and Matthew Grant. #InsuranceInnovation #UnderwritingTransformation #AIinInsurance #InsurTech #EfficiencyInAction

🎉 2024 in review! Defining a year of innovation in insurance 🚀 This year, we explored the cutting edge of insurance - from groundbreaking advancements in AI and catastrophe modelling to inspiring personal stories and career advice. Here's a snapshot of what resonated with you, our curious and engaged community: 🌟 Key theme: Tackling climate-related risks with smarter modelling and data-driven solutions. 🎙️ Top content: Webinars, podcasts and events covering everything from flood modelling to the future of risk management. 📚 Spotlight features: Insights into resilience, innovation and collaboration shaping the industry today. Thank you for being part of this incredible journey. Let’s keep pushing boundaries and driving change in 2025! #InsuranceInnovation #RiskManagement #AI #ClimateResilience

In October this year, Amwins and Floodbase unveiled their flood insurance program for California municipalities following from their "Tees-to-Greens" solution for US golf courses. On our latest podcast episode, Matthew Grant speaks to Alex Kaplan and Emmalina Glinskis, who discuss how innovative water management solutions are transforming how municipalities protect their communities. Here’s what Floodbase and Amwins are doing: ✅ Map boundaries: defining jurisdictional areas ✅ Tracking Water: monitoring lakes, rivers and reservoirs ✅ Spot anomalies: detecting water where it shouldn’t be Why it matters? Flooding impacts more than public assets like city halls, it disrupts businesses, residents and the tax revenue that keeps municipalities running. With federal aid (like FEMA) and insurance falling short on revenue protection, proactive data-driven tools like Floodbase's and Amwins' are essential. 💡 Let’s learn from their approach to safeguard #communities and ensure financial resilience. Catch the full episode here! https://lnkd.in/eieupchY 👉On Apple - https://lnkd.in/ePNs7aW3 👉Or on Spotify - https://lnkd.in/e9rrGsJR #FloodManagement #PublicSectorInnovation #DataInsights #Resilience Sam Jones Matthew Grant Robin Merttens Susi Ozkurt Alex Smithard Benjamin Gopal Charlotte Salisbury Evan Achiron

It’s a misconception to label #AI as inherently untrustworthy. In fact, many AI systems, such as ChatGPT, achieve a baseline accuracy of around 90%, making their reliability comparable to that of human operators. This level of precision provides a strong foundation, but how we interact with AI determines whether it reaches its full potential. One of the key challenges in AI is dealing with "hallucinations" - instances where the system generates incorrect or fabricated information. Addressing this challenge lies in the art of prompt engineering. By carefully crafting inputs and establishing strict boundaries, we can significantly enhance the trustworthiness of AI outputs. Here’s how: 1️⃣ Frame questions with clear constraints and boundaries to guide the AI. 2️⃣ Direct AI to reference specific, validated datasets or documents as its “ground truth.” 3️⃣ Implement rules that restrict AI to selecting predefined, verified options, reducing the risk of fabricated answers. Want to learn more about the future of AI and how to leverage it effectively in your business? Join us for webinar 'AI for 2025: Let’s Get on With It' webinar, hosted by InsTech and V7, where we’ll dive deeper into these topics. We'll explore how AI can be a reliable and transformative tool when paired with the right strategies and expertise. 📅 When: 29 January 📍 Where: Register here: https://lnkd.in/eY8GCSPs Don’t miss this opportunity to hear from industry experts and gain practical insights to future-proof your AI strategies. Register here: https://lnkd.in/eY8GCSPs #AI #PromptEngineering #FutureOfAI #Webinar #AI2025 John Somerset-Irving Robin Merttens

📢 With over 100 ticket sales already, will you join the strongest emerging conference - Exponential Risk London? We’re already a third of the way to selling out, be a part of it community: https://lnkd.in/eUq2cmC8 At InsTech, we know the value of networking and collaboration between people across all roles and at all levels. With attendees from leading insurers, risk modellers, data and technology providers discover who you can meet at Exponential Risk London... 🤝 Attendees will include: AIG, AXA, AXA XL, Apollo, Arch Insurance Group Inc., Allianz, Bank of England, Beazley, Brit Insurance, Chaucer Group, Charted Insurance Institute, Floating Developments, Lancashire Insurance Group, Lloyd's, MS Amlin, OAK Re, WTW, Nephilia, Inigo, Zurich Insurance, Verisk, The Hartford, Sompo, Securis Investment Partners LLP, PartnerRe, Oasis Loss Modelling Framework Ltd. and Neena's Healing. We are incredibly grateful to our sponsors: Nasdaq, Guidewire Software, Reask, ICEYE, Guy Carpenter, Addresscloud, Kroll, Moody's, Insurity, CoreLogic, Verisk, JBA Risk Management, e2Value, Inc., AdvantageGo, Aon, Bellwether, Fathom, Swiss Re, Descartes Underwriting, hyperexponential, WTW and Scrub AI. Be a part of the conversation at #ExponentialRiskLondon25 ➡️➡️➡️ https://lnkd.in/eUq2cmC8

As the year 🌪️ winds down, and after an active hurricane season in North America, our spotlight turns to catastrophe modellers. In this week’s podcast episode, Reask’s Jamie Rodney and Ian Bolliger explain how global climate signals enhance #risk #models, offering insights on both short-term variability and long-term trends. If you’re curious about the evolving science behind #catastrophe #modelling, don’t miss this deep dive into #hazard, #exposure and #vulnerability #data. This edition also features an introduction to the community update for #ClaimSorted and Recorder. We also feature updates such as EigenRisk Inc.’s integration of Smarty technology promises better geolocation precision, while Reserv’s expanded capabilities and approvals reflect growing success in AI-driven claims. Beazley’s Fuchsia 2 nat cat bond signals evolving capital strategies, and Munich Re’s and Allianz Commercial’s analyses of the 2024 #hurricane season underline the pressing impact of climate change on insured losses. Optalitix’s partnership with PwC strengthens support for its Quote platform in the London Market, and insights from Indico Data’s podcast with Verisk’s Global Chief Data Officer highlight the industry’s push toward more effective data strategies and innovations. Stay tuned as we continue to spotlight the people, tools and ideas driving transformation in insurance and risk management.

>>> 𝐀𝐖𝐀𝐑𝐃 𝐂𝐀𝐓𝐄𝐆𝐎𝐑𝐘 𝐇𝐈𝐆𝐇𝐋𝐈𝐆𝐇𝐓 <<< As nominations start coming in - let's highlight some more of the award categories available this year. Nominating is easy with our web form and will only take a few minutes out of your day to celebrate a colleague or fellow market professional who is deserving of some recognition! https://lnkd.in/e6_ZcEZQ The 𝐋𝐞𝐚𝐝𝐞𝐫𝐬𝐡𝐢𝐩 award. Perhaps someone comes to mind when you think about Leadership within our profession? Someone who, through their work or actions, has driven the development of our profession, been a role model for others, or showcased our profession more widely. #lcma #catawards2025 #ExponentialRiskLondon25 InsTech Photo by Jehyun Sung on Unsplash

What does it mean to have a globally connected model? This week on the podcast Matthew Grant spoke to Reask's Jamie Rodney and Ian Bolliger to talk about how Reask's models integrate global climate signals to provide more accurate assessments of #hurricane risks. Ian in this snippet touches on how as the climate shifts, traditional approaches to hurricane risk assessment based on decades of historical landfall data are becoming less reliable. 📌 The challenge with traditional models? Historical averages don’t reflect the changing risk landscape, influenced by both year-to-year variability and long-term trends like human-induced climate change. They fail to account for how climate systems connect risks across regions, such as the Atlantic and West Pacific. 📌 A modern approach? New models focus on learning the #physics driving climate dynamics rather than static historical data. This allows for: 1️⃣ Assessing how risks in one region (such as the Atlantic) correlate with others (the Pacific) which is a critical consideration for global portfolios. 2️⃣ Accounting for how specific climate patterns in a given year may amplify or offset risks across regions. Listen to the full episode here - https://lnkd.in/gZMmgH_C 👉On Apple - https://lnkd.in/gFxFHYjj 👉Or on Spotify - https://lnkd.in/gPHpzEmZ Sam Jones Zoja Wojcik Benjamin Gopal Alex Smithard Robin Merttens Charlotte Salisbury Susi Ozkurt Louise Braybrooke CCRA Oliver Roberts #InsuranceInsights #CatastropheModelling #ClimateRisk #EvolvingClimate #RiskManagement

An exciting #insight into our upcoming podcast with Reask this weekend covering all thing #catmodelling and #risk... However for now, we can share a snippet from CEO Jamie Rodney speaking at InsTech's July Evening Event. 📖 Jamie shared some fascinating insights on the power of #preparation for extreme weather events. ⚡According to Jamie, the cost-to-benefit ratio of being proactive can be as high as 1:13—a clear indication of how impactful early action can be. By exploring new data sets, organisations can accelerate loss adjustments, reduce expenses before events occur and optimise insurance claims processes. 🎉 Reask are also proudly sponsoring our new two day conference #ExponentialRiskLondon25 next March. Tickets are now on sale and join in the conversation: https://lnkd.in/eUrhmtuU