How AI Is Changing Actuarial Thinking in Captive Insurance

Artificial intelligence (AI) is no longer a future concept for the insurance industry—it is already reshaping how data is analyzed, models are governed, and decisions are made. In this episode of The Edge of Risk podcast by IRMI, Steven Abel and Jason Abril of Oliver Wyman discuss how AI is influencing actuarial work and captive insurance programs, from workflow automation and data enrichment to emerging governance considerations.

The discussion highlights how captives face distinct opportunities and constraints compared to traditional insurers, particularly in scale, actuarial resourcing, and loss prevention strategies. Mr. Abel and Mr. Abril also address transparency and explainability in AI-driven models, stressing the continued importance of actuarial judgment and human oversight. The episode concludes with insights on why AI literacy and adaptability will be essential skills for actuaries and captive professionals in the years ahead.

Hear the full conversation on Captive.com for practical insight into how AI is reshaping actuarial workflows, model governance, and decision-making in captive programs.