Travelers develops LLM; AIG's global chief underwriting officer

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Travelers develops large language model

The Travelers Companies announced its development of TravelersLLM, a large language model tailored to its property and casualty business. Built by Travelers engineers and data scientists the model is trained on millions of company documents. 

Mojgan Lefebvre, EVP and chief technology & operations officer at Travelers, said in a statement: "TravelersLLM combines our vast amounts of well-curated data and our industry expertise with leading AI capabilities, all delivered to the point of need, improving decision quality and productivity at scale. It works alongside leading frontier models and brings a level of precision and context that is unique to Travelers."

AIG appoints global chief underwriting officer

American International Group announced Nancy Bewlay as executive vice president and global chief underwriting officer, effective Sept. 8. Bewlay will be responsible for AIG's underwriting strategy.

Bewlay joins the company from AXA group where she was group chief underwriting and pricing officer. Prior to that she held leadership roles at Swiss Re, C.V. Starr and General Star Management Company. 

Eric Andersen, president and CEO of AIG, said in a statement: "Nancy Bewlay is a deeply technical and experienced insurance executive with a distinguished track record of advancing underwriting excellence and building high-performing global underwriting teams. Her experience leading underwriting organizations during several market cycles, combined with her ability to strengthen portfolio management and risk analytics at scale, will be a tremendous asset to AIG."

Markel International appoints managing director, PFR and cyber

Markel International announced Bhavik Desai as managing director, PFR and cyber within its London market business. Desai joined Markel in 2013 and has held several senior underwriting roles. 

In this new position, Desai will focus on developing underwriting talent and support modern underwriting practices. 

Rohan Davies, managing director, London market, said in a press release: "Bhavik is a highly respected underwriting leader with deep technical expertise, strong broker relationships and a clear understanding of the markets in which our PFR & Cyber teams operate. His appointment provides leadership continuity for the division and supports our focus on disciplined underwriting, portfolio performance and sustainable growth."

Nexar and Nauto merge

Nexar, a physical AI platform, and Nauto, AI-powered safety and vehicle intelligence, announced the two have entered into an agreement to merge. 

Zach Greenberger, Nexar's CEO, will be CEO of the combined company. Stefan Heck, Nauto's founder and CEO, will chair the combined board. Financial terms were not disclosed. 

Greenberger said in a press release: "By bringing together Nexar and Nauto, we are building the world's largest and most diverse independent foundation for real-world intelligence. For the first time, the organizations that build, deploy, and operate intelligent systems have a trusted, independent record of how the world actually behaves, not just how it has been simulated. That is what lets organizations ask the physical world questions and act on the answers."

BofA Securities served as financial advisor to Nauto and Fenwick and West served as legal counsel to Nauto.

This roundup was created with AI assistance. A Digital Insurance editor reviewed each item before publication.