AI & Next Gen Insurance Services Conference
Loughborough University and the Willis Research Network (WRN) presented a range of perspectives on the business application of Artificial Intelligence (AI) and its role in the ongoing digital transformation of the insurance industry. We introduced a mix of top university researchers and industry practitioners participating as both presenters and panellists to enhance their depth of knowledge around AI and the use of AI in our industry.
What was it about?
The goal was to look beyond the day-to-day business decision-making and examine the broader challenges of employing AI, the implication for business models and to address some of the organisational and public policy challenges to make effective use of these new technologies. There were four key seminar themes:
An assessment of the current state and potential of Artificial Intelligence
Keynote speaker: Mike Hope, IBM, and David Lopez, University of Exeter
AI and Insurance Business models & Digital Innovation in Insurance
Featuring Steven Woodford, BGL and Chris Holland, Loughborough University
New Insurance Technologies & The InsureTech Landscape
Featuring Ed Gaze, Lloyds Lab, Matt Cullen, Association of British Insurers and Case studies from business
The enterprise view of AI and data technologies in insurance
Featuring research presentations and panel discussion on organizational challenges and regulatory compliance
Across the range of industry and academic presentations, and the panel sessions, six key themes emerged:
- Data is central
- There are many varying technologies, but the focus must always be on application
- The emergence of a richly populated insurance ‘ecosystem’
- Regulation is key
- There are many moving parts
- Successful implementation requires trust and effective communication
A wider summary of the event and its conclusions can be found here.