QBE Ventures

QBE Ventures is pleased to have Lynn Thompson leading the charge on the value of the Australian tech sector and setting the partnership agenda at the Australia National Tech Summit. Supporting a connected tech ecosystem is a key enabler for the Australian economy, and QBE Ventures is actively investing in early stage tech companies that have the potential to transform insurance. 

Well it certainly has been a busy week at QBE Ventures! We are very excited to announce our investment in Aurora, a digital insurance platform that is helping shape the future of underwriting complex risk. Algorithmic underwriting, and the potential to leverage advanced analytics, data-driven insights and AI to enhance our understanding of risk, will drive tremendous opportunities to help lead underwriters reduce friction and increase accuracy, whilst enabling a better broker experience. Really looking forward to working with Jan-Vincent Finn Bijal Patel Andy Race, and Aurora team. QBE Insurance Alex Taylor Jay Novis Peta Kilian Simon Pink Lynn Thompson Daniel Wypler

The sessions, events, and conversations at ITC Vegas were insightful, in-depth, and genuine.  Our three biggest takeaways: 1. AI in workflows…it’s everywhere. From superficial to game-changing digital co-workers, the value has been established. Now we need capabilities to scale the next wave of AI. 2. We are breaking through current constraints in thinking. In private deep dive sessions everything was on the table in the search for fit for purpose innovation - captives, embedded, parametric. 3. Bending of the loss curve. Closing the loop between data and risk management to improve profitability. We saw a lot of focus on property and leaks, but it’s as relevant for cyber and keeping people safe. What we didn’t see much of, and want to hear from, are start-ups leading in the spaces of AI intersecting with robotics, systematic deep fakes, insurance product innovation for AI and trust, security, and intelligence to minimise downtime. A big thanks to everyone to made it such an enjoyable event: ITC, IA Capital Group, Guy Carpenter, Sabine VanderLinden, Munich Re, GreenPoint Partners, Sønr, Sandbox Industries. #ITCVegas #Insurtech Lynn Thompson Jay Novis Anand Rao, PhD, MBA Chaz Perera Heather H. Wilson Matt Connolly Gil Arazi Magdalena Ramada Sarasola, PhD Scott Gunther Alex Ahmadi Lisa Wardlaw Dom Nolan Henry Sanderson Sam Knee-Robinson Josh Bjorkman David King Jillian Slyfield Michelle Gouveia Eric Pollock John Cottongim Sharon Rodriguez Rocio Sarriegui Zulueta Rachael (Brown) Farina Anna Cranney Noah Paaymans QBE Insurance

QBE Ventures is proud to announce our strategic investment in Lazarus AI, a deep tech start-up that is helping to solve legacy challenges in underwriting and claims using Artificial Intelligence (#AI) and Computer Vision.   Our vision is to use this technology to better enable underwriters and claims officers to get near-instantaneous research and evidence-based reports, highlighting areas of risk or claims which may inform a change in position. AI supports insurance employees to be responsive, adaptive and fast paced. Learn more: https://qbe.co/4f3geTa #Insurance #Innovation #InsurTech #AIinInsurance  James Orchard, Lynn Thompson, Alex Taylor, Simon Pink, Daniel Wypler Jay Novis

Please join QBE Global Head of Cyber, Serene Davis and QBE Ventures, Simon Pink at the FERMA (Federation of European Risk Managers) Forum 2024 in Madrid on the 21st October where they will share their experience of bringing the outside in to QBE Insurance by investing in and working with Insurtechs. QBE Europe FERMA | Federation of European Risk Management Associations #Insurtech #Cyber #FERMA2024

At QBE Ventures, we're committed to using emerging technologies to enhance QBE Insurance operations, and our industry. Alex Taylor, our Global Head of Emerging Technology, spoke at the Insurance News technology seminar in Sydney about the emerging role of AI in the many complex tasks we undertake to understand and place risk.   "The point of value with AI will not be role replacement" Alex said. "instead, AI is going to lead to reduced friction in underwriting and claims, greater ability to serve our customers better, and an understanding of the risks customers bring to us in a much more effective way for all participants in the insurance value chain, leading to a more efficient industry." You can read more here: https://qbe.co/4fBIsFq

In a successful Australian pilot, QBE Ventures has harnessed technology from investments in geospatial data and AI to support the claims experience for commercial customers impacted by Tropical Cyclone Jasper in December 2023.    “Our investments in geospatial data and AI platforms have the potential to transform the way we manage residential and commercial property risks and claims at QBE,” said James Orchard, Chief Executive Officer, QBE Ventures.     “Geospatial data shows us the precise location of our insured properties. When combined with satellite imagery, our teams can visually assess the impact of severe weather events in near real-time in one place.”    Read more: https://lnkd.in/ed6_XgK5     Image credit: ICEYE Lynn Thompson, Alex Taylor, Mattias Hallersbo, Arron Mann (GAICD), Chad Vigar    #GeospatialTechnology #AI #Insurtech

Earlier this week, Simon Pink, UK Head of Emerging Technology, joined Gallagher Re for their inaugural London InsurTech Breakfast Briefing. Simon shared some practical examples of where AI is being applied within Underwriting and a look forward to the emerging AI capabilities that could further shape the (re)insurance industry. #QBEVentures #InsurTech #AIinInsurance #EmergingTech #Innovation #FutureOfAI 

"The insurance industry globally is undergoing dramatic transformations in the technology we utilise, to respond to challenges in catastrophic events, nascent threats like cyber attacks, and the opportunities to modernise existing products such as workers compensation." - Alex Taylor, Global Head of Emerging Technology at QBE Ventures. In the latest episode of the Insurance Unplugged Podcast, Alex shares his expert insights on how AI is revolutionising the insurance sector. From improving responses to catastrophic events to tackling new threats and modernising traditional products, AI's impact is profound and far-reaching. Don't miss this engaging conversation between Alex and Lisa Wardlaw, exploring the future of insurance technology. Well done, Alex! #QBEVentures #InsurTech #AIinInsurance #Innovation #InsuranceIndustry #EmergingTech #InsuranceUnplugged

We’re chuffed to see James at the #1 spot in the InsTech podcast leaderboard! James Orchard, CEO QBE Ventures joined Matthew Grant, CEO InsTech earlier this year to talk about ‘Driving Strategic Value through Corporate Venturing’. QBE Insurance #insurance #innovation