In his role as Insurance Industry Advisor for SAS Institute, Inc., Michael (Fitz) Fitzgerald regularly addresses questions from property/casualty insurance leaders of at all levels about how their companies should be preparing for an AI future. In this edition, Fitzgerald takes on the role of guest editor, providing insights from leaders ranging from middle management executives all the way up to the C-suite and boardroom about data governance, insurance regulation, enterprise risk management, talent management, boardroom composition and more.
Financial services technologies come and go. Useful shiny objects become standard operating procedure. How quickly and effectively an insurer makes this transition varies. Faster and better yields ...
Some are standing in the station. Others are already on board. Property/casualty insurance carriers are mapping out itineraries as the AI train speeds across this industry and the ones they insure. A ...
With titles like global chief information officer, chief data officer and chief platform operations officer marking an accomplished career in financial services, Ursuline Foley is well-positioned to ...
In an August interview with Bloomberg, Microsoft CEO Satya Nadella referenced a 1995 internal memo from the company's then-CEO Bill Gates titled "The Internet Tidal Wave," saying he believes the ...
Introducing the idea that regulators encourage the use of innovation and AI Systems while recognizing that such systems present unique risks, such as the "potential for inaccuracy, unfair ...
An industry consortium or other form of coopetition may be the best way for carriers to jump into the fast-moving world of AI, a tech entrepreneur who has held executive roles at major carriers ...
At Cover Whale, an InsurTech for commercial trucking insurance, an employee named Bob on the artificial intelligence team is actually an AI-powered chatbot. "Bob is our friend. He is an incredible ...
When Generative AI burst onto the scene at the end of 2022, users gushed about the automatic content creation, greater productivity, and some funny or disturbing anomalies. Within days, it seemed, ...
The NAIC's model bulletin on carriers' use of Artificial Intelligence Systems, adopted in December 2023, specifically sets out expectations that insurers will describe their processes for acquiring, ...
"I've seen a good amount of coverage on implementing AI. But what I haven't seen a lot about is leading" AI programs. That's how Carrier Management's Guest Editor Michael (Fitz) Fitzgerald started a ...
Imagine being able to tell a broker prior to a submission, "I can take this account in my underwriting portfolio," instead of giving a broad appetite listing for the distributor to puzzle through. A ...
Career experience in deep tech and investing in insurance industry innovation give Jonathan Kalman a unique perspective on how artificial intelligence will change the P/C insurance industry. The ...
Much of the discussion around how to manage the advanced forms of artificial intelligence—machine learning, generative AI, large language models—deals with them only as technologies. This is a ...
The definitions of artificial intelligence and machine learning used in the NAIC Surveys on Automobile and Homeowners over the last few years differ from the definitions set forth in the Model ...
In an industry where the pace of regulation is often described with references to snails and turtles, the NAIC's adoption of a model bulletin on carriers' use of Artificial Intelligence Systems ...
When Matt O'Malley and Steve Stabilito, underwriting leaders from AXA XL, described a ground-up process for transforming their teams into data-driven businesses recently, Carrier Management had ...
A month-and-a-half after the NAIC adopted a model bulletin on carriers' use of Artificial Intelligence Systems, the New York Department of Financial Services issued a circular letter on the "Use of ...
Insurers need to take a comprehensive and collaborative approach to stem the rising tide of social inflation. This approach should be one that involves not only assessing corporate risk and ...
Successful litigants holding trial-court judgments have traditionally found themselves positioned similarly to mountaineers atop Mount Everest: After a long, brutal and costly ascent to the summit, ...
Discussions of talent in the property/casualty insurance industry often focus on the advancing average age of the workforce and the idea that the looming departures of retiring professionals will ...
More than half of insurance companies expect to increase staff in the next year, according to the latest labor market study from Aon and the Jacobson Group. Meanwhile, 77 percent of carriers expect ...
Social media sites are filled with examples of layoffs gone wrong, displaying snippets of emails and other messaging to announce workforce cuts posted by some of the employees directly impacted. But ...
Immediacy or necessity has a way of sneaking up on us and getting our attention. This principle is true across the board. Nobody rushes to the front of the line to get a colonoscopy or root canal, ...
In today's rapidly evolving landscape, property and casualty insurers find themselves at a pivotal juncture, akin to a digital battlefield. Echoing George Washington's wisdom from 1799 that ...
When Eos Venture Partners invested in a cyber recovery firm, it had yet to generate significant profit. But Fenix24 has since had a "meteoric rise," according to Jonathan Kalman, a founding partner ...
Mary Guzman already has helped develop a new insurance coverage once in her career. Now, she's leading the charge of another. In the early 2000s, when she worked as a regional practice leader at ...
In this edition of Risk Alerts, Carrier Management highlights cryoseisms, also known as frost quakes; AI-assisted phishing attacks using large language models and voice cloning; flood-prone homes; ...
If you ask Carrier Management's Guest Editor Michael (Fitz) Fitzgerald to describe his career path to his current role as Insurance Industry Advisor for SAS Institute, he'll likely offer an analogy ...
When CM's guest editor contributed an article last year suggesting that industry talent and technology officers should team up to build company-specific HR programs for advanced AI, I thought it was ...
