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Unavoidable Catastrophe
Mitch Caster July 12, 2022 Posted in: Blog Posts, Insurance / Insurers, Reinsurance
A useful and illustrative measure of extreme weather events are catastrophic (CAT) insurance claims, herein defined as any occurrence resulting in more than $25 million in insured damages. The insurance industry has seen an increase in large CAT claims over the last decade relative to historical experience – with notable recent events including hurricanes Harvey, Irma and Matthew.
Will Artificial Intelligence Reshape Insurance and the Actuarial Profession Along with It?
Mitch Caster June 23, 2021 Posted in: Blog Posts, Cyber
Efficiency and accuracy have always been big objectives of business, specifically efficiency in customer service and work processes. Artificial intelligence (AI) has proven helpful for businesses looking to accomplish those objectives and, as a practice, has moved to the forefront of many professional fields, including insurance. AI’s growing implementation has the capacity to reshape the way we experience insurance – and not just in expected ways.
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