Mark McLaughlin, global insurance director, IBM, said insurers will benefit from developments in data, artificial intelligence, cloud computing and industry platforms.
Matt Cullina, CEO, CyberScout, said cyber-related risks have evolved from data breaches to more targeted attacks that look to quickly monetize purloined data.
Insurers and reinsurers at the Meeting of Reinsurance Officials in Montreal said mutual insurers lack stock companies' range of access to capital sources, which is why many look to reinsurers for help with capital and expertise.
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.
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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