Will automation in commercial lines insurance drive the role of the underwriter to extinction?

Will automation in commercial lines insurance drive the role of the underwriter to extinction?

In March, Forbes Magazine announced that underwriting is one of the jobs that automation will replace by 2030. Join Artesian and CGI in a discussion focusing on the art and science of commercial lines underwriting and hear the views of the industry’s leading executives on this critical topic.

Insurance automation presents new opportunities, as well as challenges for underwriters and the insurance industry. Amongst the pros are productivity gains, faster and better adjustment or assessment of risks, streamlined processes, reduction in human error, scalability, and the opportunity to expand existing products or diversify into entirely new markets.

Yet, many are concerned that maintaining a lack of human contact could be detrimental to customer relationships, that automation could cut jobs, or that malfunctions, failures or misinterpretation of data by emerging technology could lead to damaging consequences for both insurer and insured alike.

Whilst 2030 might seem a long way away, rapid advancements in the pace of automation innovation mean now is a critical time for commercial lines insurers to understand the opportunities and risks of leveraging new technologies if they want to remain competitive in today’s data-driven economy.

Your view counts

Insurance automation systems of the future will not be built on algorithms alone, but on a rich understanding of the commercial lines insurance landscape – the key issues impacting underwriters, where the biggest gains can be made, what the future looks like through the your eyes, and how predictive analytics, MBL and natural language processing can improve decision making, underwriting processes and insurance delivery.

Artesian Solutions in partnership with CGI, one of the world’s leading high-end IT and business consulting companies are joining together to host a forum for senior commercial lines underwriters to exchange of views on automation and to bring innovation to insurers.

We are jointly hosting this event to facilitate an open exchange of views from business leaders who have real experience of the complex issues involved. It is not an opportunity for vendors to promote their products or services.

Join the debate on May 9th

Not your average networking opportunity – following Chatham House rules, Artesian’s breakfast forums are intended to foster conversation and tackle the most pertinent topics impacting commercial lines insurance:

Venue: The NED, EC2R 8AJ – one of the City’s premier architectural masterpieces (grade 1 listed room) and former home of the Midland Bank

Time: 8.30am – 10am

Chair: David Williams, Managing Director of Underwriting Technical Services, AXA

Contact: robert.taylor@artesiansolutions.com

This is a must attend event for Heads of Underwriting, Innovation and Transformation from the UK’s major commercial lines insurers.

For more information about the breakfast forum, how to register and who’s attending, please click here for the brochure.