Ascot prioritises AI with hire from IBM

Bermuda-based re/insurer Ascot has hired a veteran artificial intelligence (AI) and analytics leader from a Big Tech company to design a new predictive modelling and AI strategy for the company.

Ascot has appointed Christian Toft-Nielsen as senior vice president, predictive modelling and AI strategy - a newly created role designed to develop the company’s AI and analytics framework.

Toft-Nielsen has more than 25 years of experience managing digital transformation at major companies such as IBM, where he most recently held the position of vice president and senior partner, IBM Consulting.

Throughout his career, Toft-Nielsen has led analytics practices to enable workforce optimisation, revenue augmentation, cost minimisation, and risk mitigation through AI advancements.

Ascot said his appointment aligns with the company’s tech-centric, data-led approach to customer service and platform optimisation.

“Through the introduction of generative AI and automation, the P&C insurance industry stands at the cusp of a technological revolution, and we firmly believe that the time to invest, adapt, and innovate is now,” said Owen Williams, chief information officer, Ascot US.

Williams added: “We are investing in our future, in our technology and in our people to position us for sustained success. I am confident that Christian’s wealth of experience in the space and unwavering passion for harnessing the power of data and emerging technologies will make a meaningful and long-lasting impact across many facets of our organisation.”