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Strategy

Oliver Wyman's Rick Chavez on Meeting Mega-Disruptions in Insurance

Flashing blue disco lights, pop music, a half dozen very large TV screens, and thousands of people. Sound like insurance? It’s insurance disrupted. This morning at ITC 2018 Rick Chavez, Oliver Wyman partner and the head of the America’s Digital Strategy Acceleration Practice gave a keynote describing the opportunities for legacy insurers trying to transform their business.

A look back at ITC 2017: Our InsureTech Connect Conversation with AIG's Guarav Garg

Summer is under way and planning is ongoing for InsureTech Connect 2018, October 2-3 at the MGM Grand Las Vegas. Join more than 5,000 attendees for the latest in what’s happening and where insurtech will be heading. Oliver Wyman will once again be the presenting sponsor for the world’s largest insurtech gathering, where entrepreneurs, investors, insurance executives, and risk managers...

The risk professional's role in managing technology innovation

The gathering of risk management professionals at the recent RIMS meeting in San Antonio saw the release of the fifteenth “Excellence in Risk Management” survey from our colleagues at Marsh and the event sponsor, RIMS. Drawing on the responses of about 450 risk management professionals, Maintaining Relevance Amid Technology Disruption tackled the key issues around the risk management professional’s role

What are the implications of a blend of digital and human capabilities?

The recent report from Oliver Wyman and the Chartered Insurance Institute (CII), “The Underwriter of the Future Six Years On,” makes clear that in many areas of corporate and commercial insurance, much of the current “artisan” business model will get a “bionic upgrade” – not 100% machine, but an inseparable blend of digital technology and human capabilities.

Predictive capability will come through machine learning and artifical intelligence

What MMC President and CEO Dan Glaser calls “augmented intelligence,” driven by advances in machine learning and AI, will allow insurers to keep up with the increasingly complex risks companies face today. What will clients find most valuable about these insurtech advances? And will there always be a role for the broker?

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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.

The example of smart grids

As part of an ongoing collaboration between Oliver Wyman and the World Economic Forum on Mitigating Risks in the Innovation Economy, Stuti Joshipura, an Oliver Wyman Principal seconded to the Forum this past year, has been in a unique position to observe different ways in which the intersection of technology and risk have unfolded.