Mark McLaughlin, global insurance director, IBM, said insurers will benefit from developments in data, artificial intelligence, cloud computing and industry platforms.
Insurers and industry leaders on an A.M. BestTV at the Meeting of Reinsurance Officials said nations that restrict cross-border insurance, manipulate interest rates and react to disasters with short-sighted solutions.
Chris Duffield, senior vice president, Swiss Re Canada, said some mutual insurers may be able to better negotiate changes to the insurance environment because of their focus on their policyholders and corporate values.
Michael Barnes, assistant vice president, Willis Re, said mutual insurers' focus on policyholders likely means they would rather develop more complex solutions tailored to policyholder needs, than develop simple, limited products.
Charles Dugas, director of insurance solutions, Element AI, said insurers that want to implement an artificial intelligence program must work from a digital, modernized technology platform with access to data sources and computing power.
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