Artificial intelligence (AI) is revolutionizing the underwriting process, offering unprecedented opportunities for efficiency and accuracy in the insurance industry. In this interview with AAIS Partner, Cogitate, we explored how AI is promising a new era in data interpretation and utilization. Jacqueline Schaendorf, CPCU, Co-Founder of Cogitate and President and CEO of Insurance House, discussed the potential of predictive modeling in underwriting and claims processes, significant data challenges faced by carriers, and innovative solutions offered by Cogitate.

The connection between home inspections and securing reinsurance is crucial for insurance carriers. In this interview with AAIS Partner, Chrp Technologies, we delve into the pivotal role of maintaining a high-quality book of business for insurers seeking reinsurance. Micah Kalisch, Founder and CEO of Chrp Technologies, elucidates how adhering to inspection protocols aligned with stringent underwriting standards not only safeguards insurers against potential risks, but also enhances their appeal to reinsurers. He also discusses how Chrp can support underwriters throughout this process.

Generative Artificial Intelligence (GenAI) is revolutionizing industries with its ability to understand, synthesize, and create language-based content. In this interview with AAIS Partner, BluePond.AI, we explored how this leap forward is particularly impactful in the insurance sector, where manual processes and complex documentation are prevalent. Hear from Pranav Pasricha, CEO of BluePond.AI, to learn what GenAI is, its transformative applications within the insurance industry, the challenges of adopting this technology, and how carriers can effectively navigate these obstacles to harness GenAI's full potential.

Due to today’s hard market, reinsurers are much more selective about the risks they underwrite. To secure reinsurance coverage, personal lines property carriers must maintain a healthy book of business and loss ratio.

Today, there is a lot of buzz surrounding generative artificial intelligence (GenAI) and its potentially significant implications for the insurance industry. The use of GenAI in insurance is taking a large step forward, leading the paradigm shift in AI and machine learning (ML) due to its efficient and innovative features. In the dynamic realm of insurance, burdened by cumbersome manual processes, traditional AI solutions are limited. GenAI transcends these limitations, offering transformative solutions to streamline insurance workflows and propel the industry forward.

AAIS spoke with Lillian Colson, Vice President and Secretary of Inland Marine Underwriters Association (IMUA), the national association for the commercial inland marine insurance industry in the U.S. Colson discussed trends shaping today’s inland marine market, effects of climate change on inland marine, the use of data and technology tools, and what’s new at IMUA, including its upcoming Annual Meeting.

For this Advisory Report, AAIS spoke with Sharon Emek, Ph.D., CIC, CEO of AAIS Partner, WAHVE, a unique contract staffing talent solution serving the insurance industry, as part of a two-part series on how to solve the talent crunch and retain quality talent in the insurance industry. In part two, Emek addressed what causes employees to resign, how to create loyalty in your organization, the effects of COVID and remote work expectations, managing today’s workforce, how WAHVE helps insurers cope, and more.

For this Advisory Report, AAIS spoke with Sharon Emek, Ph.D., CIC, CEO of AAIS Partner, WAHVE, a unique contract staffing talent solution serving the insurance industry, for a two-part series on how to solve the talent crunch and retain quality talent in the insurance industry. In part one, Emek addressed the state of the talent gap in the insurance industry, searching for candidates with AI, advice for hiring managers, and more. 

As part of the AAIS Webinar Series, AAIS hosted a virtual discussion on December 7, 2023, featuring Chrp Technologies. Moderated by AAIS President & CEO Werner Kruck, the session explored the state of today’s home insurance market as well as the challenges and opportunities that lie ahead. Featured guest speakers Chin Ma, President of Chrp Technologies, and Brandi Wyrick, AVP of Experience at Orion180, reviewed how new and emerging technologies like Chrp can improve underwriting results and operational efficiencies. They also touched upon the role of artificial intelligence (AI) across the insurance space and how companies can leverage new capabilities to improve the customer experience.

The National Association of Insurance Commissioners (NAIC) held its 2023 Fall Meeting on November 30-December 4 in Orlando, Florida. During the meeting, AAIS spoke with Kevin Gaffney, Commissioner of Insurance for the Vermont Department of Financial Regulation, to discuss the biggest challenges facing the industry, how the regulatory community is responding to them, updates on “big data” from the NAIC H Committee, and new initiatives for the state of Vermont.