Robin is joined by Concirrus CEO and Co-founder Andrew Yeoman on Podcast 160 to discuss how commercial insurers are beginning to use algorithms to support underwriting decisions.

The conversation covers the findings from the InsTech London report, A Practitioner's Guide: Algorithmic underwriting in commercial and specialty insurance, which examines where industry adoption is right now and what’s needed to move the technology forward.

Andrew shares his insights on the potential of algorithmic underwriting, plus practical examples of how Concirrus is using algorithms to identify marine risks and build dynamic pricing models.

Talking points include:

How underwriters are using algorithms
The challenges to wider industry adoption
Predicting behaviours through technology
‘Digital fracking’ and the importance of structured data
Automation as a journey and where we are on it
The balance of AI and human input

A Practitioner's Guide: Algorithmic underwriting in commercial and specialty insurance is available to download from the InsTech London website.

For more information about Concirrus, take a look at the company's InsTech London member profile page.

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Continuing Professional Development - Learning Objectives

InsTech London is accredited by The Chartered Insurance Institute (CII). By listening to any InsTech London podcast or reading the accompanying transcript, you can claim up to 0.5 hours towards the CII member CPD scheme.

The Learning Objectives for this podcast are:

Understand how algorithms are being used to build dynamic pricing models
Recognise how algorithmic approaches support underwriting decisions
Distinguish how structured data improves the efficiency of underwriting algorithms

To continue learning about commercial insurance, visit the Concirrus profile page on the InsTech London website.

If your organisation is a member of InsTech London and you would like to receive a quarterly summary of the CPD hours you have earned, visit the Episode 160 page of the InsTech London website or email cpd@instech.london to let us know you have listened to this podcast.

To help us measure the impact of the learning, we would be grateful if you would take a minute to complete a quick feedback survey.

Robin Merttens & Andrew Yeoman: Navigating algorithmic underwriting in Property & Casualty (160)

InsTech - insurance & innovation

Robin Merttens & Andrew Yeoman: Navigating algorithmic underwriting in Property & Casualty (160)