Market Modernisation
A technological transformation is under way to equip a centuries-old industry for the digital age. This report examines the potential of digitalisation, automation, blockchain and artificial intelligence to enhance and ultimately change the world of underwriting.
Crunch time for London market firms as Blueprint Two cutover approaches
With less than five months to go before phase one of the Blueprint Two project to create a new digital, data-first market goes live, there is significant work for the London market to do
Whitespace ready to roll out ‘headless’ integration: Broome
Electronic trading platform Whitespace’s chief platform officer describes how the re/insurance market is moving away from traditional documents to working entirely with data
How prospective syndicates help Lloyd’s think outside the box
Asta and Greenlight Re describe the widening appeal of the syndicate-in-a-box mechanism
Carbon Underwriting’s platform ‘democratises’ insurance data
Chief technology officer at Lloyd’s first syndicate-in-a-box explains why Carbon Underwriting created its own underwriting platform
ID Comment: Artificial intelligence for re/insurance should be made to fail the Turing test
A human in the loop should be a permanent feature of a re/insurer’s AI strategy
Insurers grapple with blockchain challenge
There has been no great demand for blockchain-based products in insurance because, unlike banks, insurers do not face the same pressures for speedier or cheaper payments, and do not issue as many asset-backed securities
Legal Focus: Smart medical devices and digital health apps have implications for insurers
The development of wearables and AI-enabled devices can improve patient outcomes but create new risks for healthcare professionals and device manufacturers
Viewpoint: Blueprint Two is a significant potential risk event
Blueprint Two is one of the larger programmes most of us will have experienced in our careers and brings the promise of many benefits in terms of improved data quality, reduced costs and increased resilience
Ebix Europe gears up to increase competition in electronic placement
London market technology specialist completed seven years as architect and provider of the original London market electronic placement platform at the end of 2023
Viewpoint: Balancing the opportunities and risks of generative AI
This year the focus on generative AI will only intensify – so it is time for a balanced view on the opportunities and risks we face when it comes to using this powerful technology
Underwriters plot route to automation
Algorithmic underwriting is a matter of ‘when, not if’, but insurers are taking a variety of approaches to the technology
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