In the dynamic intersection of technology and finance, Artificial Intelligence (AI) emerges as a transformative force, reshaping the landscape of software and data science. Nowhere is this evolution more pronounced than in the (re)insurance industry, an ecosystem intricately woven with the threads of data and its far-reaching implications.
As we stand on the precipice of AI integration into (re)insurance, questions abound. How can AI be optimally utilized? In which specific domains of the (re)insurance sector can its potential be fully harnessed? What strategies can be employed to acquire the most robust data for training these intelligent systems? Equally imperative, what are the legal requirements and perspectives that govern the deployment of AI in the (re)insurance industry?
Our forthcoming webinar is designed to unravel these intricate questions, offering insights into the multifaceted applications of AI in (re)insurance and delving into the legal dimensions that accompany this technological revolution.
Traditionally known for their hesitancy in adopting technological innovations, insurers find themselves at a crossroads with the advent of AI. The challenges are undeniably formidable, yet the promises of enhanced efficiency across the entire insurance journey—from streamlining underwriting processes to optimizing pricing strategies and claims management—are as limitless as the potential of AI itself.
Moreover, in the face of natural catastrophes, technology such as data analytics becomes an invaluable ally in mitigating impacts. In this webinar, we will explore real-world examples of insurers and insurtech pioneers already incorporating AI into their operations, showcasing the transformative power of these technologies.
Join us on this enlightening journey as we discuss the early adoption of AI, predicting that those who lead the charge will not only gain greater market share but will also drive unparalleled efficiencies in the (re)insurance industry. Embrace the future with us, where AI is not just a tool but an indispensable catalyst for change in (re)insurance.
SPEAKERS
AI and its applications in (Re)Insurance processes from Disaster Risk management perspective
Dr. David Wood, Head of Software, JBA Risk Management
David has 18 years of industry experience since completing his PhD in Informatics and Machine Learning and is currently a team leader for the JBA Risk Management Mapping Software Team. David has led several projects that are core to JBA Risk’s business, including the development of FARM (a Python GIS library), MapMachine (a web-based system for managing JBA’s mapping projects), and projects aimed at developing predictive models using “deep learning” machine learning techniques. David has extensive experience in Python, R, data science, high performance computing, and GIS-based software development.
David is an experienced researcher and has published several research papers on machine learning and statistical analysis techniques.
AI in insurance: The great adoption
Dr. Iain Willis, Research Director, Gallagher Research Centre
Iain directs Gallagher Re’s dedicated academic research fund, the Gallagher Research Centre (GRC). Supporting over a dozen Universities, the GRC is dedicated to helping answer key questions on research for (re)insurance industry. Current projects inflight cover a wide range of topics, including cyber, property catastrophe, marine risk, climate litigation and macroeconomics. Holding a BSc Geography, MSc GIS and a PhD in Natural Hazard modelling, Iain has worked in both the public and private sector in various Catastrophe Modelling and Geospatial management roles (GIS) since 2005.
Legal Perspective and implications of using AI
Norvin Chan, Managing Associate, Osborne Clarke
Norvin is the rare technology lawyer who is also a programmer. When he is not advising clients, he is working a GPT-chatbot and also pursuing a master’s degree in computer science at the University of Pennsylvania. In his work at Osborne Clarke, Norvin advises MNCs, telcos, and startups on regulatory issues and commercial contracts. His expertise in data privacy, AI, fintech, and crypto matters is highly sought after. Due to his deep technical knowledge, Norvin’s expertise is especially valued as a product counsel in navigating the regulatory hurdles for new products. As an ex-inhouse counsel in a technology startup, Norvin is able to empathise and work closely with clients, founders, and technical teams.
Moderator: Mansi Kalra, Managing Director, JBA Risk Management
Mansi joined JBA Risk Management in 2022 as Technical Director and is based in Singapore. With more than ten years’ experience in the insurance and reinsurance sectors Mansi leads the JBA Singapore team, sharing and developing world-class flood risk data through JBA global flood maps, event sets and global flood risk modelling for both baseline and future climates.
Before joining JBA Mansi was Program Manager for NatCatDax and focused on natural catastrophe risk assessment across Asia. Working with ASEAN member states she was involved in the development of high-resolution exposure databases for capital cities and the building of big-data platforms for assessment of their sovereign Nat Cat risk. Mansi has a Master of Science from the Indian Institute of Technology in Kharagpur, and she is a Committee Member of the Insurance Law Association of Singapore (ILAS).