Re/insurer launches Aspen Data Labs

Bermuda-based Aspen Insurance has launched a dedicated division to focus on data and artificial intelligence. 

Aspen Data Labs will host its first AI Data Summit next week, offering employees and external suppliers a platform to pitch for ideas to improve our underwriting and claims processes through data and technology.

Aspen said the division will deliver the company's digital strategy and drive forward its data and artificial intelligence agenda. 

"Aspen Data Labs will bring together employees and partners to collaborate on data science and AI projects that improve operational efficiency and accelerate business results in underwriting and claims processes," the company said. "With data analytics and technology at the heart of Aspen’s operational and commercial strategy, Aspen Data Labs is born out of Aspen’s ambition to put more focus and resources into our overall data and technology strategy. 

"Over time, it will provide access to AI platforms, frameworks and tools to improve core business functions, client experiences and, ultimately, bottom line performance. It will also foster partnership opportunities with leading third parties for continued innovation."

Christian Dunleavy, group chief underwriting officer, said: "Technology, and increasingly the potential of AI, is vital to our strategy. Aspen Data Labs will be instrumental in enhancing our decision support systems to bring solutions that improve our operations and customer outcomes. By bolstering our partner ecosystem with our internal capabilities, we are enhancing our capacity to innovate and deliver greater value, ensuring Aspen remains the partner of choice now and in the future."

Rob Houghton, chief operating officer, Aspen, said: "I’m delighted to introduce Aspen Data Labs, a key step in advancing our AI plans and creating great solutions that enhance our experiences with Aspen for our customers, colleagues and business.

“Aspen Data Labs is the hub for us to build and develop our own AI services, bring in-house tech capabilities, recruit AI skills and secure our future with responsible AI governance. It is also about strong collaboration, and our first AI Data Summit is a great opportunity to exchange ideas, work with different teams and learn from outside experts."

The AI Data Summit takes place in London from June 16-18 and is partnered by innovation specialist LMarks. 

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