Underwriters will need to be as adept in the new world of data science as they became in actuarial science.
Oliver Wyman CEO Scott McDonald recently sat down for a wide-ranging discussion on the future of the insurance industry with AIG CEO Brian Duperreault. In this excerpt, Brian talks about how data science and technology will change the face of an industry that is characteristically risk averse and wedded to the "tried and true." While the challenges for an industry that devours data to to build better risk profiles and, in Brian's words, to "divine the inherent nature of risk" will remain the same, technology will bring key changes to finding an intelligent way to build a better risk profile.
And be sure to click here to visit Oliverwyman.com for the full interview.