Kanopi’s Post

Webinar Alert! 'The Future is Now for Underwriting: Technology to Illuminate Risk & Empower Decision-Making.' Register here: https://lnkd.in/egNSaRyn How can underwriting fast-track towards an operating model that is technology-fueled and complimentary to executive teams' talents and experience? In this webinar our panel of industry leaders will cover the transformation that's coming fast in underwriting - from adoption of AI/ML tools to bolster talent, improve the CX, and drive efficiencies; to new ways to use data to understand and access risk information. Register now: https://lnkd.in/egNSaRyn Topics to consider... - State of the union for risk management: How are carriers innovating to identify comprehensive and accurate risk profiles? Let’s discuss capabilities, integration, and synchronization between carrier and new partners - How are we satisfying the need for speed inside underwriting departments? Let’s accelerate applications, reduce risk, and delight customers - Underwriting’s link to CX: Exploring CX improvement directly connected to underwriting function innovation - Modernizing systems to facilitate the use of alternative data sources for faster application underwriting and processing, more seamless cross-selling and customer personalization and ease of engagement, as well as rapid new-product launches - Industry targets for underwriting teams- How can we move into 2025 with a wholly positive scoresheet? Is technology enough? What collaboration and innovation simply must materialize? Big thank you to Team Clearspeed for sparking this debate: Sarah Terrelonge, Matthieu McHenry, Jennifer FitzHugh and their spokesperson on this topic @Allison Albercht Thank you to our panellists Byrd Preston, VP- Chief Underwriting Officer, Bardon Insurance Group, Daniel Brown, VP- Chief Underwriting & Claims Officer, The Baltimore Life Insurance Company, Steven H. Anderson, RPLU PLUS, CPLP, Director of Cyber Underwriting, Safety National Cc: LIIFT Media, Alex Martin #insurance #insurtech #underwriting #insuranceinnovation #insurancerisk #insurancedata #data #claims #AI #technology #riskmanagment #collaboration #partners #processes

Curious about the changes shaping risk selection and underwriting? Tim Rayner unpacks how data and AI create new possibilities for insurers with Insurance Post at #VICUK2024. ⬇️ #Insurance #ThoughtLeadership #Underwriting #AI #Data #Risk #LeadershipInsights #Innovation

Want to know what’s going on with AI in LATAM? Join me in this session where AI practitioners will reveal their secrets 😜

At ITC Vegas, Veridion is bringing real-time, data-driven insights that are reshaping the future of insurance. Our team, Drew Doherty, Riyaz Nakhooda, and Caroline Schweppe, will be on the ground, ready to show how our comprehensive business data solutions can help insurers make smarter, faster decisions. Why does this matter? 🔹 Better risk assessment: Leverage our precise, AI-powered data to improve underwriting and risk management. 🔹 Improved efficiency: Streamline claims management with accurate, real-time insights on millions of private companies. 🔹 Sustainability at the core: Our ESG data helps insurers align with regulatory requirements and client expectations. 📍 Don’t miss out on the chance to explore how Veridion’s innovations can give your insurance business the competitive edge. Let’s connect and push the boundaries of what’s possible in the industry! 🌟 #ITCVegas2024 #Veridion #InsuranceInnovation #DataDrivenInsurance

It was a pleasure making new connections at the Fitch Ratings Insurance Insights 2024 event which covered analysis of the drivers of insurer economics across life, non-life and reinsurance sectors.   Summarising insightful presentations and discussions in a few words: UK market outlook improving leading to increasing insurer profitability; positive price momentum maintained and offsetting cost inflation; climate change driving natural catastrophe claims higher; modernisation + cost reduction remain priorities. Keynote speaker Patrick Tiernan, Lloyd's of London Chief of Markets, signalled optimism for 2024 based on past performance; need for continued underwriting discipline and vigilance in light of volatility catalysts from increasing cost of non-peak perils, cyber and linked exposures of geo political risks   Panel discussion including Rakesh Thakrar, Phoenix Group Chief Financial Officer, among other topics considered the impact of AI highlighting key benefits, risks and quality data as an critical enabler; panel encouraged not waiting and adopting a risk based approach tailored to the business model and continued ability to meet regulatory requirements.   Connect for deeper discussions on the role and impact of AI and other data and technology innovation opportunities. Zühlke Group experts Wolfgang Emmerich David Elliman FRSA FBCS Dan Klein will present on these topics in upcoming events. #ConnecttoProsper #insurance #2024outlook #ai #data

Reuters Future of Insurance-Mitigating C-suite risks with tech-powered intelligence   The C-suite is focused on monitoring and responding speedily to four external risks to navigate the business landscape in the insurance sector effectively; geopolitical, economic, cyber, and climate. A neat blend of capital allocation, customer engagement, and innovation is their priority strategy to disrupt disruption.   We at Fractal empower insurance executives to ace their priorities at the speed of tech-powered, human-integrated efficiency and expertise, leveraging our unique combination of AI, engineering, and design approach.   At the Reuters Future of Insurance USA, discover how AI can be leveraged to offset risks - 🔸Climate Risk Control – Learn more about solutions like parametric insurance for speedy payouts, targeted partnerships for practical regulations, and coverage for renewable energy projects to help reduce environmental risks. 🔸Cyber Risk Mitigation – Discover the power of AI combined with strategic partnerships with cyber security firms are key to product maturity and claims management. Dive into how fostering employee awareness and behavioral analysis fortifies cyber resilience while AI aids in understanding network risk aggregations, security measures, and cyber risk mitigation. 🔸Inflation Risk Control –  Mine AI-driven litigation strategies and empathetic customer engagement to reduce inflationary pressures. Learn more about strategies to strengthen underwriting practices and modify pricing models to address inflation. 🔸Political Risk Mitigation – Transparent policy wording and partnerships with governments are essential to address political risks and reduce inequality. Join us at booth #24 at Reuters Future of Insurance USA 2024 on May 15-16 at Marriott Marquis, Chicago, to discover strategies, know-how, and intelligence for proactive and effective risk management for sustained C-suite success from our suite of experts, practitioners, and industry leaders.   See you there! Sankar Narayanan 'SN' Natwar Mall Onil Chavan Shailendra Singh Bhaskar Kumar Naqueeb Mehdi Prachi Khartadkar Nidhin Rajendran  Prateek Srivastava #C-suite #RiskManagement #BusinessStrategy #Innovation

tep into the future of insurance at Insurance Transformation Summit 2024! Our full agenda is now live, and contains all you need to know about our panel discussions and keynote presentations. Four amazing summits, under one roof! Here’s a glimpse of what’s in store:  𝗖𝗫 & 𝗣𝗲𝗿𝘀𝗼𝗻𝗮𝗹𝗶𝘀𝗮𝘁𝗶𝗼𝗻: How can insurers enhance CX through personalised services? 𝗣𝗿𝗲𝘃𝗲𝗻𝘁𝗮𝘁𝗶𝘃𝗲 𝗜𝗻𝘀𝘂𝗿𝗮𝗻𝗰𝗲 𝗠𝗼𝗱𝗲𝗹𝘀: Exploring a proactive approach to risk management. 𝗔𝗜 𝗶𝗻 𝗨𝗻𝗱𝗲𝗿𝘄𝗿𝗶𝘁𝗶𝗻𝗴: Leveraging artificial intelligence for more accurate risk assessment. 𝗧𝗵𝗲 𝗙𝘂𝘁𝘂𝗿𝗲 𝗪𝗼𝗿𝗸𝗳𝗼𝗿𝗰𝗲: Adapting to changing roles and skills 𝗔𝗜’𝘀 𝗧𝗿𝗮𝗻𝘀𝗳𝗼𝗿𝗺𝗮𝘁𝗶𝘃𝗲 𝗜𝗺𝗽𝗮𝗰𝘁: How AI is reshaping claims processing, fraud detection and more. 𝗜𝗻𝘀𝘂𝗿𝗧𝗲𝗰𝗵 𝘃𝘀 𝗧𝗿𝗮𝗱𝗶𝘁𝗶𝗼𝗻𝗮𝗹 𝗠𝗼𝗱𝗲𝗹𝘀: Debating the role of technology startups in insurance. View the agenda and plan your trip by visiting: https://lnkd.in/e8nsQ6JQ Five theatres, two action-packed days, endless knowledge. Which sessions will spark your curiosity? #financialservices #artificialintelligence #digitaltransformation #insurance #insurtech #customerexperience #finance #insuranceindustry #moneynext

Our most recent R&D town hall meeting this quarter was a fantastic opportunity to celebrate our collective achievements and welcome new faces to the team. The highlight was officially welcoming the Ventiv team to the Riskonnect family. Although we’ve had many connects over the past month, this was the first quarterly meeting with those joining our team from Ventiv. With team members now spanning five geographies, our combined expertise and technology strength promise an exciting future with great potential to innovate and redefine risk management as we integrate into a single platform to offer ‘Risk under one roof’ to customers worldwide.  Welcome Michael Hamann, Gaurav Tandon, Poornima Raj, Narayanan Neelakantan, Vishal Yadav, SHARAD G. and the entire Ventiv R&D team! Our journey of product innovation is also something we are proud of as a team. Work has already begun on developing new ways to address IT Risk Management. That’s not all… The AI Innovation Lab has been busy delivering three proof-of-concept projects, two of which were showcased at the RIMS (Risk and Insurance Management Society, Inc.)/Risk World conference! These advancements are just part of our journey to continue to offer AI’s offerings in the areas of Embedded Decision Support, Enhanced Workflow and Efficiency, and Practical Innovation.  Thank you Kathryn Carlson for covering our Product vision at the town hall! We also congratulated colleagues who earned promotions through their hard work and commitment. Our accomplishments are a testament to what we can achieve together, and a result of our team philosophy with "spark" and "community" as key reminders - while we continue to innovate, collaborate, and push the boundaries of what’s possible. Riskonnect, Inc., Riskonnect Services Pvt, Ltd. (India) #TeamSuccess #Innovation #AI #RiskManagement #RiskUnderOneRoof

Our Co-founder & CCO Vanda Giannara speaks at Intelligent Insurer today about using #GenAI and #DRILLER to capture emerging risk data and trends with no historical data. #RVS24 #rendezvousdeseptembre #reinsurance #artificialintelligence #genai #dgtal

📮 In today's volatile landscape, property and casualty (P&C) insurers face unprecedented challenges. With the global combined ratio reaching 103%—marking the third loss year in four—insurers are grappling with inflation, natural catastrophes, and rapidly changing risks. Yet, within these challenges lies an exciting opportunity for those willing to innovate. Capgemini’s World Property and Casualty Insurance Report 2024 reveals a blueprint for success through underwriting transformation. As per report trailblazers in the industry are breaking free from legacy models, attracting the right talent, and fostering a culture of innovation. By leveraging data, predictive analytics, and AI, these pioneers are making informed decisions and enhancing risk assessments. However, only 37% of insurers have advanced third-party data capabilities, and a mere 27% use advanced predictive models. This gap highlights the urgent need for connecting data dots through secure ecosystem partnerships and actionable insights. Moreover, the current state of underwriting is weighed down by inefficiencies. Underwriters spend over 40% of their time on administrative tasks. Imagine the potential unlocked by automating these tasks, allowing underwriters to focus on core activities that boost productivity and risk assessment accuracy. Transforming the underwriter's role by augmenting human expertise with AI-driven insights and digital workbenches can lead to more precise handling of complex risks. This blend of technology and human acumen is the cornerstone of modern underwriting. Successful insurers are more focused on fostering internal collaboration, maintaining customer transparency, and aligning operations to enhance efficiency and customer experiences. It’s not just about achieving business goals; it’s about sparking top-line growth, positively impacting profits, and enhancing risk oversight. These underwriting trailblazers are redefining industry standards, setting a precedent for others to follow. To replicate their success, P&C insurers must embark on a transformation journey that focuses on adaptability, modernizing IT systems, and integrating advanced technologies. ⏰ In conclusion we can say that the future of underwriting lies in our ability to innovate, collaborate, embrace change and evolve as per changing times. Refer attached report for detailed insights. #Insurance #InsurTech #Underwriting #RiskManagement #AI #PredictiveAnalytics #DataDriven #BusinessTransformation #Innovation #CustomerExperience #LinkedIn #LinkedInLearning