With climate change, the insurance industry is facing a rapidly growing dilemma. Stronger, more frequent, and more unpredictable natural disasters are driving insurers out of high-risk markets, expanding the geographies at risk, and leaving many overexposed. In such an environment, the ability to anticipate the effects of climate change will be a crucial driver of success. That’s why savvy insurance leaders are turning to data science and artificial intelligence, which, thanks to both the abundance of climate and actuarial data available and the models’ sophistication, are starting to enable companies to model new environmental risks with unprecedented fidelity.
AI also promises a huge opportunity to improve insurers’ underwriting and pricing capabilities more broadly across many risks. However, these models and algorithms are often unexplainable “black boxes,” which can make it difficult for companies to fully trust their outputs and for regulators to prove they are not inappropriately biased.
This timely discussion will cut through the chaos about AI tools and provide expert insights for insurance and insurtech leaders. Topics will include:
- Evolution of AI and Data for Insurance and InsurTech
- True Impacts of ChatGPT
- Case Study Fireside Chat with Special Guest, David Messinger, Sun Life U.S.
- Responsible AI Models and Practices
- Underwriting and Pricing: Transparent, Fair and Explainable AI Models
- Climate Change Impact – and how AI can help Manage Risk
- Special Case Study and Fireside Chat
In an increasingly volatile and uncertain insurance market, the combination of industry and academic expertise offered by EAI is the key to unlocking artificial intelligence that is both effective and responsible.
Usama Fayyad, executive director at the Institute for Experiential AI (EAI)
Ricardo Baeza-Yates, director of research at EAI
Auroop Ganguly, director of AI + climate at EAI
David Messinger, director and associate actuary at Sun Life U.S.
Kevin Sanborn, business development & partnerships at EAI
WHEN AND WHERE
Online, Wed, Jun 14, 2023 3:00 PM – 4:00