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14Jun 22

Underwriting The Evolving Art

  • Underwriting The Evolving Art

Practitioners from a number of Market firms gathered at One Moorgate Place for an LMF Underwriting Special Breakfast looking at the emerging use of Ai and Machine Learning in the underwriting process. Attendees heard initially from Andrew Collins, Head of Business Solutions at Earnix, who talked about some of the applicability of Ai in the insurance sector, so far, and the direction of travel. We then heard from Dr Bogdan Vrusias of Amazon Web Services about the ethics and decision making beyond the application of Ai and ML in the design of modern business systems.

Following a delicious hot cooked breakfast, Mark Bennett, VP at ACORD, kindly addressed the Group on the values and benefits of data standards and connectivity of business systems in our community. The session concluded with an open discussion on the opportunities, as well as the concerns, of adopting, Ai and ML in underwriting practice, including the human elements, as well as the anxieties that some risks may become "insurable" due to the much more detailed underwriting analysis undertaken. Delegates left armed with some great insights and "food for thought", as well as having made a number of new connections. LMF, the place where the Market learns, networks and collaborates. Further analysis of Ai will take place at the Tomorrow's World Conference on 21st July and at the Annual Tech & Innovation Summit on 22nd September - sign up now to be part of these interesting sessions.

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