How can a unified data strategy create an AI-ready underwriting advantage?

Cameron Scott
VP, Sales & Marketing | ISI

Transcript

Having a data strategy that supports AI use. So the data strategy can be one where you’re deploying a data lake or data warehouse to bring a consolidated view, or it can be an approach where you’re migrating all of your existing data into a single platform with similar data structures.

We’ve found the latter to be the most successful in proper risk evaluation and providing underwriters with real-time data, especially around accumulation across the book of business to prevent overexposure. This can be especially critical in property lines.

And if insurance companies are not yet using AI at scale, they’re certainly talking about it. And the AI can only be as good as the data behind it. A unified data foundation that follows similar structures provides the most benefit for AI.

And this benefit can be seen across submission ingestion and submission handling, generating underwriting insights across the full portfolio. But also automating day-to-day workflows and mundane tasks.

Setting up for AI use really comes first with data strategy.