Cyber-insurance provider Cowbell Cyber has formed a Vermont-domiciled captive insurance company to help the company meet the growing demand for cyber insurance. The InsurTech firm uses artificial intelligence to assist in risk selection and pricing as it underwrites cyber-insurance coverage for small-to-medium enterprises.
Global investments in InsurTech hit a record high of $7.4 billion during the first half of 2021. The first-half investment was higher than in all of 2020 or any other year, according to the "Quarterly InsurTech Briefing" from Willis Towers Watson.
InsurTech is on the rise and captive insurance companies need to understand both the opportunities and the risks presented by InsurTech. Captive board members and managers must take steps to understand the development and not allow confirmation bias to cloud their recognition of how the technology is transforming insurance.
As in other areas of the captive insurance world, artificial intelligence (AI) is becoming an increasingly important component of the asset manager's tool kit. This article provides a brief primer on AI and asset management by way of a discussion with Alton Cogert of Strategic Asset Alliance.
The ability to make educated guesses about the future has been enhanced over the last decade by the growth in artificial intelligence (AI) and predictive modeling. AI and predictive modeling could have applications for captive insurance.
In this review of the new Federation of European Risk Management Associations white paper on artificial intelligence (AI) and risk management, we specifically look at the eight-step process recommended in the study for beginning the AI journey. We also make suggestions for how captives may begin to embrace this technology.
A new white paper by Milliman discusses the development of an actuarial technique involving the use of individual claims data to build loss reserve models. We offer commentary on this new technology and why it should be of interest to captive insurers and their board members.