ANN ARBOR, MI and ATLANTA, GA, June 13, 2019 – Hosted by The Insurance Insider, the InsiderTech New York conference gathers the insurance industry to discuss the impact of insurtech on the industry.
Andrew Robinson, Groundspeed’s Co-CEO, spoke on “The Power of AI in Commercial Re/Insurance” panel during the event. Points of discussion included (1) the potential outcomes of big data and high-powered computer processing on underwriting and risk modeling, (2) how AI can increase efficiency and accuracy, and (3) reimagining pricing, reserving, underwriting and claims.
Robinson illustrated how pricing granularity and precision would go up if companies had more relevant data. He also weighed arguments on both sides of the debate as to whether AI is a democratizing force for the information-disadvantaged or if it increases the balance of power for the organizations that have an information advantage.