AM BestTV: Artificial Intelligence and Complexity Theory Joining to Push Back Risk Frontiers
With the insurance industry evolving at a rapid pace, one of the topics discussed at this year’s conference is where artificial intelligence in practice can take the insurance industry.
“With the advent of machine learning, increased computing power and other paradigms such as blockchain, which is being embraced increasingly by the insurance industry, I would say anything is possible,” said Sridhar Manyem, director of industry research, AM Best. “That is the reason AM Best has recently announced that innovation will become part of its rating criteria, since it really believes that anything is possible. AM Best sees that the pace of innovation is increasing rapidly and being embraced by many insurance companies.”
“This industry was founded on data,” said
Other people that appear in this episode:
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David Piesse , global head of insurance, Guardtime; -
James Whitelaw , chief marketing officer,Transatlantic Reinsurance Company ; and - Anya Kutsina, co-founder and executive director, global business development,
Ultimate Risk Solutions .
Recent AMBestTV episodes:
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Jordan's Insurers Face Risk and Asset Concentration, Says AM Best Financial Analyst:Luca Patron , financial analyst, AM Best, saidJordan's insurance market is competitive, but insurers there face challenges in diversifying their risk and assets: http://www.ambest.com/v.asp?v=jordan619. - Machine Learning, Models Set Stage for New Parametric Products, Says AM Best Director: Sridhar Manyem, director of industry research, AM Best, said insurers are harnessing technology that would allow new types of coverage to pay claims based on analytic outcomes: http://www.ambest.com/v.asp?v=manyem519.
- Insurtech Can Help Insurers Re-Purpose Legacy Data:
Chris Hampshire , vice president,Gallagher Bassett , said insurers have an opportunity to use new technology to reorganize stored information, increasing the effectiveness of their analytic efforts: http://www.ambest.com/v.asp?v=hampshire419. - Stable Outlook for Evolving Italian Life Sector, Says AM Best Associate Director:
Michael Dunckley , associate director, AM Best, said Italian life insurers are responding to changing market conditions with a greater emphasis on linked hybrid products: http://www.ambest.com/v.asp?v=italylife419.
AM BestTV covers exclusive AM Best and insurance industry information and reports, targeted topics and key developments in the insurance, reinsurance and related sectors daily. Sign up for alerts of episodes at http://www.ambest.com/multimedia/ambtvsignup.html. View AM BestTV episodes at http://www.ambest.tv.
AM Best is a global rating agency and information provider with a unique focus on the insurance industry. Visit www.ambest.com for more information.
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Source: AM Best
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