Data has always been a key tool for risk managers – and for their broker and underwriter partners too. We are now entering a new era for data, which could prove a game-changer for the risk management profession.
The Industrial Internet of Things, whereby interconnected sensors and devices are used to enhance manufacturing processes, is transforming the way companies work, resulting in enhanced efficiencies and also providing them with stacks of powerful data.
And the ability to harness that data, to analyse it and unlock its potential will transform the way risk managers are able to perform their jobs.
In this article, Hélène Stanway, digital leader at AXA XL outlines how Artificial Intelligence (AI) and data will change the practice of risk management.