AI and Algorithms in insurance – is the industry ready?

We’re hearing a lot about AI, but what about the critical building blocks, the algorithms, that insurers are starting to rely on to make decisions in underwriting and claims assessment without human intervention? Is the industry ready to delegate underwriting to machines?

On June 3rd, InsTech London hosted an event that aimed to answer some of the big questions about AI, algorithms and what makes them different, as well as the future ethical and legal ramifications of this technology.  

We heard from companies that are already successfully using algorithms to support risk definition, underwriting selection, claims and even the insurance of using algorithms themselves. Furthermore, InsTech London corporate members Norton Rose Fulbright and Barnett Waddingham shared their visions of the technology applications from the actuarial and legal perspective. 

Thanks goes to Ninety Consulting for sponsoring the event.

Our InsTech London podcast episodes 31, 33 and 34 contain all the details of this event.

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