Data modeling

The insurers that build for execution, rather than waiting for the next tool or the next shock, will be the ones still keeping pace when the systems around them strain.

As data sources expand and risks become more dynamic, embeddings are influencing how insurers assess risks, segment portfolios and support underwriting and pricing decisions, writes writes Brian Keller, PhD, vice president of AI and data science for LexisNexis Risk Solutions.

Insurance carriers have always relied on data to understand risk. What has changed dramatically, however, is how that data is used, writes Brian Keller, PhD, vice president of AI and data science for LexisNexis Risk Solutions.

Climate scientists can now quickly assess how much worse a given extreme-weather event has been made by human-caused climate change.

AI and data are changing what's possible in global trade.

Jonathan Jackson, CEO of Previsico, shared insights into the company.

The finance industry is relying on climate models that understate the speed at which temperatures are rising, according to a study by Britain's main association of actuaries.

The insurtech's proprietary algorithms generate historical coastal data and provide a current view of coastal flood risk, impact drivers and resilience solutions.

The models at the time overestimated the strength of the levees. They also underestimated the exposure of commercial properties.

Climate risk models, which are widely used in the insurance industry, don't typically make detailed projections for extreme heat.

Catastrophe risk information from government bodies and academic institutions would make it possible to insure more homeowners based on more granular assessment, according to insurance industry professionals.

Why next-gen risk models are the key to market resilience.

The future of insurance AI is open

Even the most-sophisticated scientific models fail to capture all the risk factors or properly account for the increasing impact of climate change.

Bloomberg Green found in an exclusive analysis that risk models often disagree with each other on fundamental assessments of vulnerability.

Applying AI to insurance claims processing improves its predictive analytics, use of predictive models and control of costs.

Digital Insurance reached out to several insurance professionals to gain insight into what parametric insurance is, when it's triggered and how access to data plays a role.

Insurance industry leaders must proactively develop risk mitigation strategies in order to optimize the use of Gen AI for insurers and their customers, alike

Climate change presents uncertainty for insurance companies but also creates opportunities for technological innovation

Chief underwriting officer finds ways to do more with technology and coverage of risks.