Simon Pink - QBE Ventures - Advice For Insurers Starting Out With AI

We met with Simon Pink, UK Head of Emerging Technology at QBE Ventures, to gain insights into his personal, experienced advice for insurers that may be starting to implement artificial intelligence technologies.

QBE Ventures is the strategic investment arm of QBE Insurance Group, focused on identifying and supporting innovative startups in the insurtech space. They provide funding and resources to nurture promising ventures and drive advancements in the insurance industry.

“Be crystal clear on what you want to do yourself, and what you need to lean on others for help with. There’s lots of talk of ecosystems being a get out of jail free card. It’s actually about who is the right partner that you can work with to help you on that journey.”

“The real value is going to be putting in that foundation of: What is the business outcome? Be that claims or selecting better risks for underwriters that we can double down on, and then, what data do we need to be true, and how do we put in place the explainability and traceability to that data.”