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.
Breaking down claims data silos to bring various data sets together in healthcare systems requires a systematic approach, according to a panel of experts who recently spoke at the World Captive Forum.
A significant majority of insurers understand that innovation is increasingly becoming a differentiator in the global marketplace, according to an A.M. Best survey of its rated entities.