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Future of Insurance

February 07, 2018

Meeting AI Risk Head On

Prashanth Gangu in HBR on approaching AI risks like natural disasters

As the world becomes increasingly interconnected, and as we become increasingly dependent upon the information flows from tens of billions of sensors and the algorithms that drive them, the associated risk of global scale shutdowns becomes more real.

February 05, 2018

IoT in the Spotlight

Breaking through the invisibility that has always cloaked real-time risk

Insurance has always operated in world of relative invisibility. Once the policy is written, the person or property it covers goes back out into the world (a world full of risks) and is never heard from again, until it’s time to renew — or file a claim.

From the Oliver Wyman / ZhongAn survey of the technology shaping the insurance industry

Up to now, the basic model of risk understanding has been to observe correlations between claims costs, composed on the one hand of the frequency and severity of insurance claims, and on the other of the characteristics of the insurable assets as described by data. This analysis is the basis for models to select risk and manage risk portfolios.