Martin Ellingsworth

🚗🚙 Milliman Appleseed has teamed up with CARFAX for Insurersto get CARFAX Vehicle Risk Scores to market more quickly. Using a score filed through Milliman Appleseed reduces regulatory risk and can be a more efficient process for insurtechs, insurers, and state regulators. #Milliman #CARFAX #insurance #carinsurance

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Some interesting stats and thoughts on the adoption of motor telematics… it’s interesting that trust is still identified as a blocker to adoption… https://lnkd.in/gV3UQEtz #insurance #generalinsurance #motorinsurance #commercialinsurance #commercialmotorinsurance #telematics #data #governance #datagovernance #datamanagement #aigovernance #productgovernance #bigdata #AI #artificialintelligence #actuary #actuarial #actuarialscience #pricing #telematics #actuarialpricing #technicalpricing #datamanagement #machinelearning #mathematics #statistics #trust #transparancy #operationsresearch

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Confused about the difference between AI and Generative AI (Gen AI)? My colleague, Donald Light, Principal Analyst on Celent's Insurance team, breaks it down in his latest blog: AI (Artificial Intelligence): "Making a Decision AI" uses data science to guide decisions, like processing insurance submissions. Gen AI (Generative AI): "Summarizing and Organizing Gen AI" generates new content from existing data, aiding underwriters by summarizing and organizing information. Final decisions are still made by humans. Both types of AI can add significant value to insurance processes, from analyzing aerial imagery for hazardous conditions to summarizing submission packages. Check out his full blog to learn how both AI and Gen AI can transform your underwriting process > https://lnkd.in/eXP3sE9q #AI #Underwriting #GenAI

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The National Alliance for Insurance Education and Research has announced it is partnering with BrokerTech Ventures to develop a foundational, self-taught course, titled 'Introduction to Insurance for Insurtech Professionals.' Dan Keough, Co-CEO of BrokerTech Ventures, commented: "The National Alliance is creating a world class educational curriculum, and BrokerTech Ventures is honoured to play a role in partnering to develop insurtech and innovation content.” Mitch Dunford, CMO at the National Alliance for Insurance Education and Research, stated: “Our new course is meticulously crafted to address these challenges, by providing insurtech professionals with a robust understanding of basic insurance concepts, terminologies, the regulatory landscape, and the impacts of new technologies." #InsurtechInsights #InsuranceNews https://lnkd.in/eXGbm5kS

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Without trust, AI implementation falls flat. In a recent piece for Insurance Thought Leadership, SVP & General Manager of North America Chase Tarkenton explores trust’s essential role in the industry, and how to build AI-enabled experiences customers can depend on. Read more here: https://hubs.la/Q02Hc3X90 #CX #AI #Innovation #GenerativeAI #ConversationalAI #Insurance #Insurtech

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This was a great application of analytics, as Bob quickly linked the findings from the claims analysis and the risk transfer piece on another coverage and optimized resources accordingly.

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Don’t miss our latest on-demand webinar in collaboration with Insurance Thought Leadership - "Why Gen AI Alone Won’t Transform Underwriting”.  In this webinar, intellectAI’s Deepak Dastrala sits down with Paul Carroll to talk about how implementing both #genAI and traditional AI can be less of a science problem and more of an engineering problem.  This webinar presents ways insurers can use both types of AI and deliver the right data to the right underwriter at the right time. Watch now: https://lnkd.in/gmdNcJkD #insurance #innovation #AI #underwriting

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Together with my colleagues from Munich Re F&C and Alexandra Matthews, I am looking forward to the GVNW Symposium next week. Alexandra and I will do a presentation on managing #AI risks: How can we quantify the residual risk of deploying AI which remains after putting a suitable AI Governance framework in place? What role does insurance play to manage such residual risk? AI Governance is the risk management framework for AI. However, as with many other risks, operational risk management and implementing technical risk measures will not completely avoid AI risks. Financial risk management plays an important part in AI Governance as well, in order to manage residual AI risk and protect developers, users, and by AI-based decisions affected individuals. So does then the use of insurance. Alexandra and I are happy to meet at the GVNW Symposium, if you want to discuss more about AI risk quantification, AI Governance, and the role of insurance of AI. GVNW - Gesamtverband der versicherungsnehmenden Wirtschaft e.V. #AIGovernance #machinelearning #insuranceinnovation

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We are thrilled to introduce Kufri, Guidewire's latest cloud update! 🎉 Kufri extends Guidewire HazardHub to 19 additional countries, enhances our underwriting and billing processes, facilitates seamless cloud migrations, and streamlines developer experiences. bit.ly/3Wzh8iC Learn more about Kufri: bit.ly/3LMBrUw #GuidewireKufri #CloudUpdate #GuidewireInnovation #insurance

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Unlock the Power of Streamlined Underwriting with the Mercury Platform. Say goodbye to the tedious manual process of policy form selection and hello to unparalleled underwriter efficiency with the Mercury Policy and Claims Platform. Our cutting-edge solution leverages intelligent automation to guide underwriters through the form selection process, ensuring accuracy and consistency every time. By eliminating the need for manual intervention, underwriters can focus on what they do best - assessing risk and making informed decisions. Experience the benefits of a streamlined workflow that not only saves time but also reduces the potential for errors. With Mercury Platform, you can trust that the right policy forms are being selected for each unique case, leading to improved customer satisfaction and increased profitability for your business. Embrace the future of underwriting and discover how Mercury Platform can revolutionize your operations. #UnderwritingAutomation #PolicyFormSelection #MercuryPlatform

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Policyholder churn doesn’t have to be inevitable. In fact, focusing on retention could be the game changer the insurance industry needs. U.S. insurers often see a high rate of turnover as unavoidable—yet acquiring new customers costs 12 to 20 times more than keeping existing ones. While price remains a key driver of churn, proactive, personalized strategies can make a difference. Advanced tools that pinpoint the optimal retention offers and provide personalized engagement have been proven to strengthen long-term customer loyalty. At Ownli, we empower insurers to take a proactive approach by enhancing retention through secure, transparent data engagement and personalized outreach, building trust where it counts. #insurtech #premiumleakage #innovation #transparency #retention

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Value-add risk insights and decision support at your fingertips. Data straight to analytics. The future is here. If you want to know more, I will be at RIMS next week. #WTW #Riskanalytics

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This Complimentary Report from ReSource Pro explores how MGAs are not just adapting but leading innovation within the Property and Casualty insurance sector. The report deep dives into: 📊Strategic forces empowering MGAs to lead, including technology agility, specialization, and market differentiation. 📊The MGA ecosystem, including the various Insurtech business models and the relationships between MGAs, carriers, and technology solutions. 📊The future of MGAs, and how MGAs can leverage niche expertise, insurtech innovation, and evolving market demands to drive growth in the insurance industry. Get the report now at https://lnkd.in/gXhZ_fYn #sponsored #insuranceagencies #mgas

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How does Kalepa's Copilot help insurers grow their books by +30%? ✅Directing underwriters toward the risks most likely to bind ✅Flagging out-of-appetite submissions, so underwriters don't waste their time ✅Accelerating the submission intake process to minutes - not hours (or days!) ✅Highlighting the key facts and exposures on every submission, so underwriters know where to focus ✅Recommending terms that lead to more (and more profitable) binders ✅Aggregating information across submission documents and thousands of data sources, so underwriters can increase their throughput dramatically ✅Enhancing producer relationships with correspondence upgrades, proactive flags for incomplete submissions, and producer-specific analytics ✅And much, much more Want to see how an end-to-end underwriting Copilot can help with your book growth? Set up time at the link in the comments 👇

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This is a great article on how insurance companies can prepare themselves to utilize #GenerativeAI effectively for the future. https://lnkd.in/duDZ9qsE #insurtech #insuranceagent #insurancebrokers

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