Weekly Newsletter 25 September: No introduction necessary
We’re all familiar with Google’s role in the tech world, but do you know what Google is doing in the insurance sector?
Google is focused on making insurance more intuitive and accessible. Nigel Walsh, Head of Global Insurance at Google Cloud, shared insights at our September event co-hosted with Google Cloud and Cytora. His message: innovation is driving Google’s insurance efforts, particularly through AI and machine learning. Large carriers are using Google’s technology to optimise and streamline their processes.
Nigel also highlighted a key point about the practical applications of generative AI in insurance:
I think for many people right now, the next big debate in the world of AI models or generative AI models is going to be about cost. Because all these things are really good, and then you look at the bill and go, ‘Whew, that was really expensive to run. We can't run that out to 1,000 people or 15,000 people or 40,000 people.’ How do we solve that?
You can watch Nigel’s full panel, along with all other sessions from the event, on-demand on our website.
The latest from InsTech
PODCAST: Smart Syndication and Wise Owls - Episode 231
Robin Merttens speaks to InsurX’s CEO, Gilbert Harrap and Chairman, Michael Watson on digital trading, smart syndication and the future of the London Market.
INSIGHT: AEGIS London: Driving broker success with digital platforms
InsTech recently met with Calum Williams, Digital Development Manager of AEGIS to discuss the development and distribution of new insurance products through the company’s digital platform OPAL.
Upcoming events at InsTech
WEBINAR: From audience to stage – realise your potential, 11 October, 11:00 am BST
Public speaking is tough for many people, but women can feel they face extra challenges and underrepresentation. Join us for a webinar where three women share their experiences and tips for overcoming common obstacles including our Event’s Director Susi Ozkurt. Useful advice for everyone.
EVENING EVENT: More production less exertion – intelligent underwriting journeys, 17 October, 4:00 pm BST
Our October 17th event, sponsored by Salesforce and Azur Technology, will explore how to combine technology and human skills to improve risk assessment and transaction efficiency.?
WEBINAR: Know your models: an underwriter’s guide to flood modelling, 23 October, 4:00 pm BST
Our panel will provide a guide to understanding flood models, how different decisions in model development can influence the results and their impact on underwriting. We’ll be concluding with tips for selecting the best model for your needs.
NETWORKING EVENT: Making parametric insurance simpler and more accessible – the role of specialist brokers, 12 November, 6:00 pm GMT
InsTech and Miller are jointly hosting a parametric networking for the industry which will discuss the need for greater collaboration across the value chain, ways to make parametric solutions more accessible and the valuable role that dedicated broker teams are playing to create a bigger more successful market. For MGAs and insurers only - we have limited capacity.
News from the InsTech members
Veritone and Nuix Partner
Veritone has partnered with Nuix to combine their technologies, enhancing customer value in investigations, eDiscovery and compliance efforts.
Scrub AI wins Insurance Startup Award
The data-cleaning platform has won the Insurance Startup Award at the Insurance Times Tech & Innovation Awards. We recently caught up with Nicola Turner, Co-founder of Scrub AI on our podcast, which you can listen to here.
领英推荐
Optalitix partners with Go.Compare
Optalitix has partnered with Go.Compare to offer its motor and home insurance pricing solution to insurers on the aggregator’s platform.
Howden launches the Resilience Laboratory supported by Microsoft
Howden has launched the Resilience Laboratory, a platform using Microsoft technology to help clients better evaluate and manage climate risks with data-driven solutions.
HDI creates energy risk unit
HDI Global has formed a dedicated Energy Unit to address the evolving risks in the energy sector.
Marsh and Tokio Marine Kiln launch $50m USD business interruption insurance
Marsh and Tokio Marine Kiln have partnered to create a business interruption insurance facility, addressing rising trade disruption risks at ports, including geopolitical threats and potential strikes.
INSTANDA integrates with Swiss Re’s underwriting platform Magnum
INSTANDA has integrated its Life offering with Swiss Re's automated underwriting platform, Magnum, to create a unified ecosystem.
Viridien selected to support mineral exploration program in Oman
Viridien has been contracted by Minerals Development Oman (MDO) to conduct a remote sensing program, using advanced technology to identify and rank mineralization prospects.
Parsyl launches Data Partner Programme
Parsyl has launched its Data Partner Program, allowing customers to integrate data from leading supply chain monitoring providers for immediate insurance benefits. Partners include Berlinger, Copeland, Roambee, Sensitech and Tive.
MSCI’s incorporates Fathom’s flood risk intelligence
Fathom has licensed its global flood risk intelligence to MSCI for use in its new MSCI GeoSpatial Asset Intelligence solution. This collaboration provides MSCI clients with detailed flood risk data to inform their portfolio and loan book decisions regarding flood exposure.
KatRisk launches new SCS model amid rising losses
KatRisk has introduced a new Severe Convective Storm (SCS) model. With SCS events leading to $70 billion USD in insured losses worldwide in 2023, KatRisk seeks to improve the understanding and management of these risks.
EigenRisk Webinar: Filter the signal from the NatCat noise, 25 September, 5:00 pm BST
EigenRisk is hosting a webinar on how their EigenPrism platform enables you to set up alerts using specific thresholds for metrics like estimated losses and exposed limits. With the constant news cycle making it challenging to track catastrophe events and their impact on your exposures, this session will show you how to stay informed with timely, relevant insights.
Decerto Guide: How to Effectively Implement Insurance Software
Decerto wrote a 30-page guide with expert insights, case studies (including Generali, Nationale Nederlanden and others) and best practices for successful insurance software implementation.
KPMG Blog: Delivering value with cyber security in the insurance sector
KPMG recently released some insights on cyber security considerations for the financial services sector, looking at several priority areas.
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I help insurance companies thrive through digital transformation and AI | Creating WOW with InfoBeans |
2 周I find it fascinating how Google is driving change in insurance! At Infobeans, we’re passionate about leveraging AI to enhance risk management strategies. It’s all about using data to drive smarter decisions and tackle challenges like hailstorm losses effectively! InsTech
Living at the edge of Insurance & Technology | Managing Director, Head of Global Insurance at Google Cloud | #makeinsurancelovable
2 周Love it - thanks for sharing our mission to bring data, AI and Security a Scale to Insurers Globally and #makeinsurancelovable
Thank you for the mention - we are very excited about the release of our Severe Convective Storm (SCS) risk model. This is an escalating peril and we are happy to provide a better market alternative to understand, prepare for, and manage SCS risk.