What really matters? The insurers view | 2024: An Insurance Odyssey

In this panel discussion, Leah Emma from Liberty Mutual, Caolan Kovach-Orr from Arch Capital, and Rohit Reddy from Swiss Re Corporate Solutions share their experiences and strategies for leveraging AI and technology in the insurance sector. They cover key challenges, data utilization, build vs buy decisions, and the importance of making underwriting more efficient and engaging. A must-watch for anyone interested in the future of insurance.

Panel Speakers:
Leah Emma,
Assistant Director of Commercial Incubation, Solaria Labs -
Liberty Mutual
Caolan Kovach-Orr,
Head of AI & Automation, North America
- Arch Capital Group
Rohit Reddy,
Head of Underwriting Strategy -
Swiss Re Corporate Solutions
Matthew Grant
, CEO -
InsTech

After our sell-out half-day event in New York on the 14 March, we were back at Google but in a bigger space at their shiny new venue in St. John’s Terminal, NYC.

Despite the increased investments in technology over the past years, expense ratios and underwriting profits have remained at the same levels as they were a decade or two ago. Insurance has changed, but only incrementally – more evolution than revolution.

The industry is still a long way from realizing the full potential that technology can bring. A world that is highly automated, providing a broader range of highly customized products, priced and delivered better. But how do we get to that endgame – evolution, revolution or a bit of both?

You joined us in New York on June 4th – 2024: An Insurance Odyssey – the voyage from evolution to revolution.

In collaboration with Google Cloud, Aon, AdvantageGo, Unqork, and Indico Data, we explored the following:

-The potential benefits from re-imagining broker/carrier data exchange.
-Enterprise-ready AI capabilities matched to the industry’s needs.
-How technology and data ecosystems can streamline risk assessment and pricing.
-How the technology of today can deliver the underwriting world of tomorrow.

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00:00 Introduction and Session Overview
02:52 Key Challenges and Goals in Underwriting
07:26 Data Utilization and External vs Internal Sources
09:12 Build vs Buy: Strategic Decisions
14:20 Cultural Shifts and Adoption of New Tools
17:52 Final Thoughts and Magic Wishes