QBE Ventures

In a successful Australian pilot, QBE Ventures has harnessed technology from investments in geospatial data and AI to support the claims experience for commercial customers impacted by Tropical Cyclone Jasper in December 2023.    “Our investments in geospatial data and AI platforms have the potential to transform the way we manage residential and commercial property risks and claims at QBE,” said James Orchard, Chief Executive Officer, QBE Ventures.     “Geospatial data shows us the precise location of our insured properties. When combined with satellite imagery, our teams can visually assess the impact of severe weather events in near real-time in one place.”    Read more: https://lnkd.in/ed6_XgK5     Image credit: ICEYE Lynn Thompson, Alex Taylor, Mattias Hallersbo, Arron Mann (GAICD), Chad Vigar    #GeospatialTechnology #AI #Insurtech

Earlier this week, Simon Pink, UK Head of Emerging Technology, joined Gallagher Re for their inaugural London InsurTech Breakfast Briefing. Simon shared some practical examples of where AI is being applied within Underwriting and a look forward to the emerging AI capabilities that could further shape the (re)insurance industry. #QBEVentures #InsurTech #AIinInsurance #EmergingTech #Innovation #FutureOfAI 

"The insurance industry globally is undergoing dramatic transformations in the technology we utilise, to respond to challenges in catastrophic events, nascent threats like cyber attacks, and the opportunities to modernise existing products such as workers compensation." - Alex Taylor, Global Head of Emerging Technology at QBE Ventures. In the latest episode of the Insurance Unplugged Podcast, Alex shares his expert insights on how AI is revolutionising the insurance sector. From improving responses to catastrophic events to tackling new threats and modernising traditional products, AI's impact is profound and far-reaching. Don't miss this engaging conversation between Alex and Lisa Wardlaw, exploring the future of insurance technology. Well done, Alex! #QBEVentures #InsurTech #AIinInsurance #Innovation #InsuranceIndustry #EmergingTech #InsuranceUnplugged

We’re chuffed to see James at the #1 spot in the InsTech podcast leaderboard! James Orchard, CEO QBE Ventures joined Matthew Grant, CEO InsTech earlier this year to talk about ‘Driving Strategic Value through Corporate Venturing’. QBE Insurance #insurance #innovation

The QBE Ventures team were proud to join Insurtech Insights epic program and networking opportunities last week in New York alongside many talented and innovative insurtech startups and insurance industry leaders. Daniel Wypler, Global Head of Investments at QBE Ventures joined two stellar panels for insightful discussions. Moderated by Nico Stainfeld, Alexander Tuff, Jason Gross, Isaac Espinoza and Daniel shared their wide-ranging experience on approaches to Accelerating Innovation on the panel Build, Buy or Partner? and Daniel moderated the Beyond AI 1.0: Evolved Use Cases for AI’s next (Gen)eration panel with Shrenik Dagli, Matthew Jones, Amanda Joseph and Alex Panait for an engaging discussion on innovation priorities for insurers. QBE Insurance Cameron Ventures American Family Ventures Lazarus AI Jay Novis #insurtech #insurance #collaboration #innovation

“We are really excited about multi modal GenAI. We are going to see a shift from single task orientated models to complex, multi steps task coordination and execution.”   Catch up with Simon Pink, UK Head of Emerging Technology, QBE Ventures, alongside Oliver Mapp, Data Science Lead at Inver Re (The Ardonagh Group), and Andre du Preez, Curator of MillerLabs at Miller Insurance Services LLP, who engaged in a discussion with Henry Gale, Research and Insights Manager, InsTech on generative AI, the lessons learned from implementation and why they are excited about its future within the Insurance industry.   Listen to the webinar - https://lnkd.in/g24NRCD3   #GenerativeAI #Insurance #Innovation #InsurTech QBE Insurance

Simon Pink, UK Head of Emerging Technology, QBE Ventures participated in a thought-provoking Insurance Post roundtable on scaling up new technology in the insurance industry. The discussion delved into the integration challenges of automation and AI with Simon highlighting the balance between relying on data and understanding client's needs in the insurance industry. "I’m very conscious that this is an industry built on data. However, we need to be cognisant of spending more time with our clients and understanding their needs. We are now in a position where we can personalise that interaction based on our data."   Simon shares how QBE's use of a large language model in North America for cyber submissions triage has improved underwriters' efficiency by prioritising workloads. “This has been well received. They are still in control and look at everything, but it’s given them the ability to prioritise their work within minutes,” Pink says.   Read more about the discussion https://lnkd.in/e_DUbdYJ QBE Insurance  #QBEInsurance #QBEVentures #technolgy #AI

It was fantastic to have Andrew Horton, Alex Taylor, Lynn Thompson and Simon Pink on stage throughout Insurtech Insights Europe in London, contributing and learning from peers, and to talk to the best and brightest in the Insurtech startup community. Our three key take-aways: 👉All eyes on Generative AI. First generation use cases centred around claims call summarisation and submissions triage to supercharge underwriters are in production. ‘What comes next’ was a hanging open question with surprisingly little discussion. 👉Partnership with purpose and aligned expectations on all sides are essential between carriers and Insurtechs. Leveraging the best of the strengths of nimbler, young organisations (like speed of execution) and carriers (consistency of product and customers to test with) can ensure success.  👉Modern SaaS platforms that optimise the claims value chain continue to draw attention. Data value chains appropriately deployed to enable AI model fine tuning is becoming increasingly important. Our team is grateful for the opportunity to speak alongside Sabine VanderLinden, Jonathan Salter, Tom Wilde, Karthikeyan Ramasubramanian, Martyn Denney, Will Thorne, Laura Drabik, Stefan Lemper, Tjerrie Smit, Petr Vaclav, Frederic Crecco, Andrew Pedler, Jamie Macgregor. #insurance #insurtech #innovation QBE Insurance Insurtech Australia

Are you curious about the role of QBE Ventures in achieving QBE Insurance’s long-term goals? James Orchard, CEO of QBE Ventures and Serene Davis, QBE Global Head of Cyber recently joined The Voice of Insurance for an insightful conversation. They delved into their collaborative efforts in innovating the future of cyber insurance from underwriting strategies to risk management.   Discover how Serene and James are forging new paths in the cyber landscape together. Listen now https://lnkd.in/g3iZsbah   #QBEInsurance #insurance #innovation #CyberInsurance

Alex Taylor, Global Head of Emerging Technology recently sat down with Jasmine H. from FST Media discussing the future of insurance and the transformative role of emerging technologies like AI. Alex discussed the challenges and opportunities in integrating new tech, navigating regulatory landscapes and the importance of collaboration in driving industry evolution. We’re looking forward to Alex delving further into these topics at the upcoming Future of Insurance 2024 event where he will be a featured keynote presenter!