Jim Young

Our TC wind, storm surge and inland flood models are based on global sea surface temperature (SST). Climate variability included are a warm Atlantic SST as well as La Nina, both conditions that increase many risk measures in the US this year.

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Value-add risk insights and decision support at your fingertips. Data straight to analytics. The future is here. If you want to know more, I will be at RIMS next week. #WTW #Riskanalytics

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🌟 2025: The Year Insurance Executives Unlock GenAI Superpowers! Generative AI is reshaping the insurance industry, offering corporate-safe tools Copilots to augment each talent and create value. But here’s the catch: your success hinges on how effectively (and responsibly) you empower those talent to integrate these superpowers into their daily tasks and decision-making processes. Is your organization ready? You need a tailored GenAI upskilling program to meet your organization unique needs. Here’s a roadmap to get started: 1️⃣ Understand the current landscape: ↳ Stay ahead with trends in GenAI adoption within insurance. ↳ Address the rise in employees using personal AI tools. ↳ Recognize the importance of formalized GenAI training. 2️⃣ Assess your organization’s needs and gaps: ↳ Do your teams have the essential GenAI skills? ↳ Is there a gap in training that’s holding back progress? ↳ Are you systematically leveraging GenAI for operational efficiency, risk management, customer engagement, and tracking value creation? 3️⃣ Bridge the gap with The Digital Insurer GenAI Explorer Program in partnership with Microsoft. Ready to turn your GenAI aspirations into reality? Let’s talk! Contact me directly to explore how we can transform your organization together and check our program on https://lnkd.in/deDzB-TK

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What’s new in artificial intelligence (AI)? In the first of my new series of quarterly article + video updates, I share recent technological advances and outline their relevance to the insurance industry. This installment considers different AI model types and how to evaluate them. Have a question or comment? Join the conversation. https://bit.ly/3ZQ8jUy hashtag #genai #insurtech Reinsurance Group of America, Incorporated

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This was a great application of analytics, as Bob quickly linked the findings from the claims analysis and the risk transfer piece on another coverage and optimized resources accordingly.

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There's no denying that AI is set to transform the #insurance landscape, but industry professionals are still figuring out the best possible use cases for the technology. For P&C insurers, AI shows the greatest potential for reducing transactional friction, enabling competitive pricing, and improving the customer experience. The tech is also speeding up underwriting, providing underwriters with more in-depth insights. As more insurance professionals adopt AI though, it's important to establish liability policies and ethical standards to ensure the tech is used with care and consideration. #InsurTech #AI #Insurance #Underwriting

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📢 Check out the latest Risky Business newsletter from Beazley. In this edition, dive into the Geopolitical Risk Snapshot, discover the new Full Spectrum Cyber offering, learn about the shifting landscape of product liability litigation in the life sciences space, and more. #Beazley #RiskyBusiness #Insurance

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It was great to have Avi Gesser and Ina Ebert as guests in our Munich Re podcast “AI - Safe & sound”. Together with our moderator Alexandra Matthews, Avi and Ina were discussing the impact of AI on questions of liability and litigation. They shared very interesting insights on AI liabilities and potential impact on insurance. If you are interested in AI Governance and AI risks, listen to our new podcast episode with Avi and Ina linked below. #artificialintelligence #aigovernance #insurance

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Together with my colleagues from Munich Re F&C and Alexandra Matthews, I am looking forward to the GVNW Symposium next week. Alexandra and I will do a presentation on managing #AI risks: How can we quantify the residual risk of deploying AI which remains after putting a suitable AI Governance framework in place? What role does insurance play to manage such residual risk? AI Governance is the risk management framework for AI. However, as with many other risks, operational risk management and implementing technical risk measures will not completely avoid AI risks. Financial risk management plays an important part in AI Governance as well, in order to manage residual AI risk and protect developers, users, and by AI-based decisions affected individuals. So does then the use of insurance. Alexandra and I are happy to meet at the GVNW Symposium, if you want to discuss more about AI risk quantification, AI Governance, and the role of insurance of AI. GVNW - Gesamtverband der versicherungsnehmenden Wirtschaft e.V. #AIGovernance #machinelearning #insuranceinnovation

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Artificial intelligence (AI) technology is moving quickly and creating opportunity for improved operational efficiency, but this innovation also has risks for organizations to keep in mind. The Hartford’s Head of AI Underwriting, Andrew Zarkowsky, discusses in this article: http://ms.spr.ly/6000lUoHa #IWork4TheHartford https://bit.ly/3Dors74

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This is a very cool idea worth exploring: (what if you could easily create and have "GenBots" with very specific skills running inside your Snowflake account and helping human knowledge workers?) BTW, Genesis AI is offering a free trial in AWS regions!

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We were delighted to work with Scott Stransky and Marsh McLennan on this analysis of CyberCube's security signals! It confirms what we've seen in our own testing: that our signals provide important insight and value to the underwriting process. Whether in soft markets or hard ones, cyber insurers do well to understand and manage the risk they are taking onto their balance sheets. Check out the report to see the analytic lift CyberCube can provide your underwriters. Or reach out to us to explore how we can run a study on your claims to show the uplift that comes from using CyberCube in underwriting.

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Introducing 'Claim Summarizer', first in a series of tools that will leverage the power of AI for the betterment of our clients, claimants, and resolution managers. #GenAI #GallagherBassett #Claims

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According to the editorial team at Agency Forward, 79% of principal agents have adopted, or plan to adopt and AI platform in the next six months. If you're one of them, consider starting with customer service. There's an enormous opportunity to differentiate with conversational AI technology! https://lnkd.in/gvQcChVr

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Everything everywhere all at once - that’s what #GenAI is and will continue to be like that given the exponential pace of innovation! All leaders within the AI space are knowingly or unknowingly driving people, process and tech transformation. It’s fun, it’s indeed interesting and a bit tough given unknown unknowns (Ajay Agrawal). Here’s some of my views on current #AI wave.

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For organizations exploring Apache Iceberg for enhanced flexibility and adaptability in their data strategy, the Polaris Catalog is a compelling solution worth exploring. Learn more about Polaris Catalog here: https://lnkd.in/epAQVv3i

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The insurance industry is on the verge of a transformation, and Generative AI is leading the charge. From underwriting to claims and risk management, AI is starting to help streamline operations and enhancing decision-making (and might become, if not already, crucial for risk portfolio performance) Our latest Paper, a collaboration between The Digital Insurer and Singapore College Of Insurance dives deep into these opportunities and associated challenges. 📊 Why should YOU read it? ✅ Unlock AI’s role in improving operational efficiency ✅ Explore new methods for risk analysis & customer engagement ✅ Real-life case studies from leading insurers on GenAI adoption ✅ Get ready for the transformative power of (Gen)AI on our industry at personal productivity AND corporate use case level Connect with us (btw will be at InsureTech Connect Vegas next week), comment our paper, and let's transform the future of insurance together! https://lnkd.in/drfXyf63 #Insurance #GenAI #RiskManagement #Underwriting #Claims #DigitalTransformation

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Cyber incidents can happen to any company, regardless of size or industry. In fact, 52% of Chubb’s reported Cyber claims in 2023 were for companies under $150m in revenue. Discover how Chubb’s holistic approach to risk management can help mitigate risks and protect your business. https://lnkd.in/eDwjCmRe

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I recently had the opportunity to participate in a US Department of the Treasury roundtable on “AI in the Insurance Sector.” Thank you to Stephen Simchak for showing me the ins and outs of #washington. My latest article explains how, by collaborating and considering all aspects of this technological revolution, insurers can take positive strides in defining not only AI but also the future of insurance. #genai #InsurTech #ai Reinsurance Group of America, Incorporated

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