"How AI is Changing Underwriting": A Preview of the April 18 InsurTech Hartford Symposium Panel
An Expert Panel to Explore AI's Transformative Impact on Underwriting
A recent McKinsey study estimated 50% of all insurance tasks could be fully automated by AI – and AI-powered underwriting could reduce time needed for 70% of all underwriting tasks.
The question, then, isn’t whether insurers will use AI, but how they will accelerate its adoption for maximum productivity and ROI.
This year’s InsurTech Hartford Symposium (April 17-18 at Mohegan Sun’s Earth Exhibit Center), will feature a panel discussion on how AI is enhancing risk assessment, optimizing quoting processes and reshaping the underwriter's role. Exploring how artificial intelligence is revolutionizing the underwriting landscape will be moderator, Dawn Walker, associate director of Delegated Underwriting Authority Enterprises and Industry Relations at AM Best, who will be joined by Sarah Lamberg, Head of Underwriting at Beazley Digital; Jennifer Krawec, Head of Global Risk Solutions Incubation at Liberty Mutual; and Roots Automation’s Co-founder & CEO, Chaz Perera.
Together, the panel will examine how AI algorithms and predictive models are augmenting traditional underwriting methodologies. Increasing underwriters’ capacity is an essential challenge for insurers. Fully 40% of underwriters’ time is spent performing non-core tasks (e.g., document processing, data entry or rework).
Rather than add further complexity to underwriting operations, this tech serves very basic purposes: to deliver more accurate risk scoring and pricing, and faster quote-to-bind times.
As AI capabilities expand, so will the need for responsible governance to prevent biased or unfair decisions. The panel will provide insights into maintaining transparency around AI model reasoning and outputs. They'll also explore how human underwriters’ expertise will remain critical for validating AI recommendations.
With AI positioned to handle more routine tasks, the panel is well-positioned to offer invaluable perspectives on how underwriter roles and acquired skills may shift to improving brokers’ customer experience.
AI is already driving insurance’s tech transformation. We can’t wait to help underwriting leaders and other insurance professionals get a head start understanding the challenges, opportunities, and best practices surrounding successful AI deployment.
Roots Automation is honored and excited to be part of this panel and to participate in this year’s Hartford InsurTech Symposium, which promises to be the biggest one yet. Come meet the Roots Team at Booth #108 to discover how the future of AI-powered underwriting is happening today.
The rich text element allows you to create and format headings, paragraphs, blockquotes, images, and video all in one place instead of having to add and format them individually. Just double-click and easily create content.
A rich text element can be used with static or dynamic content. For static content, just drop it into any page and begin editing. For dynamic content, add a rich text field to any collection and then connect a rich text element to that field in the settings panel. Voila!
Headings, paragraphs, blockquotes, figures, images, and figure captions can all be styled after a class is added to the rich text element using the "When inside of" nested selector system.
Fusce non convallis mi. Curabitur nec rutrum orci. Etiam vitae diam ut tellus venenatis ultricies. Fusce vitae ipsum sed urna tempor tempor et vitae dui.
Fusce non convallis mi. Curabitur nec rutrum orci. Etiam vitae diam ut tellus venenatis ultricies. Fusce vitae ipsum sed urna tempor tempor et vitae dui. Aliquam nibh ante, tempus vel ultricies nec, tempus sed felis. Nullam et efficitur velit. Aenean odio nulla, facilisis a commodo eu, suscipit at augue.
Aliquam rutrum dui sapien. Aliquam pulvinar lectus accumsan est dictum, et faucibus justo ornare. Mauris placerat placerat consequat. Donec commodo consectetur nunc, et posuere orci lacinia sed. Duis mollis, eros quis porta laoreet, mi est euismod lectus, vitae volutpat quam enim congue tellus. Lorem ipsum dolor sit amet, consectetur adipiscing elit. Proin ornare laoreet consequat. Integer at accumsan lacus, eget ultricies augue. Vestibulum semper sapien at venenatis pretium. Integer nec iaculis lacus. Sed elit nisi, luctus sit amet vehicula nec, mattis nec purus. Nulla facilisi. Nam ornare in justo eget facilisis.
