In this session Dave will explore how AI components can be inserted into the Commercial Underwriting process to support fast, accurate and confident decisions. Looking at both Algorithmic and Underwriter executed trades he will explore where some of the short-term and longer-term developments and benefits will arise.
Dave will be covering topics such as;
- Machine Learning in Pricing and Portfolio Management.
- Unstructured Data ingestion and extraction of structured data assets.
- Document comparison.
- Imagery and risk analysis.
- Generalized support of AI on the desktop.
Learning Objectives
At the end of this session, delegates will be able to:
- Describe where AI plays a part in Commercial Underwriting today.
- Explain the insights and thinking around underwriting decision support, focusing on how AI can assist underwriters in making more confident, accurate, and prompt decisions through the development of digital underwriting assistants.
- Explain how AI can be utilized in Product Management to balance customers’ needs for tailored products with the requirements for compliant and resilient products that can be managed cost-effectively.
- Outline the concept of Algorithmic Underwriting and discuss whether we will see the rise of the digital underwriter.
About the Presenters
David Ovenden, David Ovenden, Chief Underwriting Officer, AXA Commercial
David is the CUO in AXA UK’s Commercial business, an experienced technical and business leader he has over 30 years’ experience in the industry. His career has been a mix of underwriting, people, and transformational leadership. Starting as a property underwriter in the London market, David has worked across underwriting, insurance risk, portfolio, and segment leadership and prior to moving to AXA he led WTW’s Pricing, Product, Underwriting and Claims Practice within their Insurance Consulting and Technology business. Consulting on UW and Pricing transformation he championed the need for independent pricing solutions and is now working within AXA to create a similar externalised approach for products and wordings.
David is the Exec sponsor of a number of data and AI programmes within the commercial business and has successfully deployed AI and Machine Learning across a number of Underwriting, Pricing and Portfolio Management use cases.
