Data/Tech (6)

Keeping Pace with the Evolving Auto Industry

Nov 2, 2021 / by Ash Naik posted in Community, Technology, Issues & Trends, Data & Technology, Tech News, Telematics, P&C Insurers, Auto, Commercial Auto, AAIS News & Views, AAIS Insights, Personal Auto, Data/Tech, Insurance Line of Business

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A Fast-Moving Auto Industry Presents Challenges and Opportunities

The automotive industry transformation continues to have significant repercussions in the insurance industry. With improving sophistication in car technology, telematics, and consumer behaviors, insurance carriers face new and unprecedented challenges spanning the entire lifecycle of the policy from research to claims. Still, personal and commercial auto insurance remain the industry bellwether as the largest product lines accounting for more than $300 billion in annual premiums.

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AAIS, Berkley Re & Munich Re Experts Talk Cyber, Fire & Flood Risk

Oct 20, 2021 / by AAIS posted in Machine Learning/AI, Issues & Trends, Data & Technology, AAIS Events, Events, Tech News, Homeowners, New/Emerging Risks, Climate Change, P&C Insurers, Fire, AAIS Insights, AAIS Pulse, AAIS Event Archives, Data/Tech, Berkley Re, Insurance Line of Business, munich re, flood

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The AAIS Pulse newsmagazine recently featured a discussion with experts from Munich Re, Berkley Re Solutions, and AAIS hosted by AAIS Vice President of Products John Kadous on the emerging risks affecting policyholders in the homeowners market. The focus was on the evolving threats around cyber, fire and flood and how they’re being impacted by climate change, technology and more.

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Maryland Insurance Commissioner Talks Talent, E-Commerce, Insurtech & More

Oct 18, 2021 / by AAIS posted in Machine Learning/AI, Issues & Trends, Data & Technology, AAIS Events, Events, Tech News, Insurtech, Regulatory/Compliance, New/Emerging Risks, Working in Insurance, Legislation & Regulation, AAIS Insights, AAIS Pulse, AAIS Event Archives, Data/Tech, NAIC, talent

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The AAIS Pulse newsmagazine recently featured a discussion between Maryland Insurance Commissioner Kathleen Birrane and AAIS VP of Government, Legal and Compliance Robin Westcott. They covered a range of topics, from careers in insurance and climate change to National Association of Insurance Commissioner Working Groups, technology, insurtechs and much more.

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Bob Hartwig Sheds Light On COVID-19, Climate Change, Cyber Risk & More

Oct 13, 2021 / by AAIS posted in Community, Issues & Trends, Data & Technology, AAIS Events, Events, AAIS Event Archive, COVID-19, Tech News, Regulatory/Compliance, Cyber, New/Emerging Risks, Climate Change, Working in Insurance, Legislation & Regulation, AAIS Pulse, AAIS Event Archives, Data/Tech, Friends Cove, GLC, Litigation

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The AAIS Pulse newsmagazine recently featured Robert Hartwig, Ph.D., CPCU, industry expert and insurance professor at University of South Carolina's Moore School of Business. He spoke with AAIS CEO Ed Kelly on a range of topics facing the industry including COVID-19, climate change, cyber risk, year-end financials, and much more.

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Blockchain: The Next Big Thing

Oct 8, 2021 / by Robin Westcott posted in openIDL, Issues & Trends, Data & Technology, Data Management/Distributed Ledger, Tech News, Regulatory/Compliance, Blockchain, Data/Tech, Modeling/Actuarial

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In August, AAIS Views detailed the results of our hugely successful Proof of Concept (POC) for openIDL (Open Insurance Data Link) that proved the blockchain technology can dramatically improve the insurance regulatory reporting proves for insurers and regulators. We also saw that insurer information could be correlated with data from other sources to reveal deeper insights, and that data could be leveraged by regulators, while remaining private, secure and in full control of participating carriers

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Getting Technical: How openIDL Came to Life

Oct 5, 2021 / by Isaac Kunkel, Chainyard posted in openIDL, Data & Technology, Data Management/Distributed Ledger, Tech News, Regulatory/Compliance, Blockchain, Data/Tech, Chainyard

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openIDL, the groundbreaking blockchain technology AAIS developed to streamline regulatory reporting and connect data across the insurance industry has a chance to revolutionize the entire insurance ecosystem. When you peek behind the curtain, you see just how much went into building out this platform collaboratively with stakeholders in the insurance and technology world.

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openIDL COVID-19 Pilot Huge Success, Delivers First-Ever Insights

Aug 17, 2021 / by AAIS posted in openIDL, Insights, Data & Technology, Data Management/Distributed Ledger, COVID-19, Regulatory/Compliance, Blockchain, Legislation & Regulation, Data/Tech, Regulators, Business Interruption, Linux Foundation, AAIS Views

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AAIS conducted a Proof of Concept (POC) using the open Insurance Data Link (openIDL) for regulatory reporting. The results demonstrated that this blockchain/distributed ledger technology can dramatically improve both the output and process of insurance regulatory reporting for insurers and regulators.

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Examining the Evolution of Blockchain Applications in Insurance

Aug 13, 2021 / by Truman Esmond posted in openIDL, Insurance, Machine Learning/AI, Issues & Trends, Data & Technology, Data Management/Distributed Ledger, Tech News, Regulatory/Compliance, Blockchain, Data, Modeling/Predictive Analytics, Data/Tech, AAIS Views, Regulatory Reporting

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Blockchain started as a popular buzzword among techies but has since permeated across industries. In insurance, its potential is being realized as game changing. Truman Esmond, AAIS Vice President of Membership and Solutions, spoke at a recent webinar hosted by The Institutes Griffith Insurance Education Foundation on how AAIS is utilizing blockchain to support industry.

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Learning From the Surfside Condo Collapse

Aug 10, 2021 / by Matt Hinds-Aldrich posted in openIDL, Technology, Issues & Trends, Data & Technology, Data Management/Distributed Ledger, Insurance News/Current Events, Blockchain, AAIS Insights, Data/Tech, AAIS Views, wildfire, NatCats

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The collapse of the Champlain Towers South condo in Surfside, Florida, shocked the nation, starting a much-needed conversation about the importance of risk mitigation. As the events unfolded, we learned that the information about the significant risk of collapse was known—to some—but simply went unheeded. 

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Keeping Pace & Setting the Rate: Looking ahead to the role of the new pricing actuary

Apr 28, 2021 / by AAIS posted in Technology, Insurtech, IoT, Data, AAIS Pulse, Data/Tech, Modeling/Actuarial, Data Management, Lewis & Ellis, AAIS Views, Actuarial, Autonomous Vehicles

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The AAIS Pulse newsmagazine recently featured AAIS Chief Pricing Actuary Mike Payne and Somil Jain, VP & Consulting Actuary at Lewis & Ellis Actuaries and Consultants, spotlighting forces reshaping the role of pricing actuaries.

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