Technology Driven Change and Next Generation Insurance Value Chains (TECHNGI)
Lead Research Organisation:
Loughborough University
Department Name: Business and Economics
Abstract
Financial and insurance services contribute more than 7% of UK national income and over one million jobs, with around one third of this employment in insurance. London is the leading global centre for specialist commercial (re)insurance broking and underwriting, with a wide range of specialised skills that supported the writing of £60 billion of gross written premium in 2013. Exports of insurance and pension services were £17.6bn in 2016, some 7% of total services exports.
Our project investigates the opportunities and challenges for the UK insurance industry arising from the application of the new Ai technologies, including machine learning, distributed ledger, automated processing and the explosion of available data for business analytics and modelling including from social media and the connections emerging to the 'internet of things'.
We will explore the implications for the insurance industry of this wave of new digital technologies, with the support of many of the UK's leading insurance companies. We will identify and map the range of opportunities for AI based innovation in business processes and business models, across underwriting and risk analytics, claims processing and customer engagement. We will examine, through engagement with industry on business opportunities and challenges and through a range of case studies, the barriers to adoption and the enablers of change.
We will examine these barriers and enablers both from organisational and industry wide perspectives. At the organisational level we will examine the requirements for successful innovation ("critical success factors") and develop organisation wide assessments of their readiness for adoption. At the industry level we will examine new emerging ways of providing insurance services, including the possibilities for transformative change in insurance value chains, for example with separation of risk and underwriting from customer engagement, and the potential for sharing of services and data.
Finally from these organisational and industry investigations we will develop strategic and policy analysis and recommendations, identifying the steps required from firms and from policy makers to support the adoption of AI technologies and ensure that these support automation and efficiency gains in UK insurance industry and benefit insurance customers.
A distinctive feature of our project is our deep industry engagement, offering us the opportunity to engage with practitioners across the full range of business functions: in strategic roles; in specific business areas across product lines and operational processes; in risk analytics; and in technology. These contacts will support a range of case studies of the deployment of AI in insurance and also interview, survey and forum style empirical investigations to achieve the full understanding from both these organisational and industry perspectives.
Our project investigates the opportunities and challenges for the UK insurance industry arising from the application of the new Ai technologies, including machine learning, distributed ledger, automated processing and the explosion of available data for business analytics and modelling including from social media and the connections emerging to the 'internet of things'.
We will explore the implications for the insurance industry of this wave of new digital technologies, with the support of many of the UK's leading insurance companies. We will identify and map the range of opportunities for AI based innovation in business processes and business models, across underwriting and risk analytics, claims processing and customer engagement. We will examine, through engagement with industry on business opportunities and challenges and through a range of case studies, the barriers to adoption and the enablers of change.
We will examine these barriers and enablers both from organisational and industry wide perspectives. At the organisational level we will examine the requirements for successful innovation ("critical success factors") and develop organisation wide assessments of their readiness for adoption. At the industry level we will examine new emerging ways of providing insurance services, including the possibilities for transformative change in insurance value chains, for example with separation of risk and underwriting from customer engagement, and the potential for sharing of services and data.
Finally from these organisational and industry investigations we will develop strategic and policy analysis and recommendations, identifying the steps required from firms and from policy makers to support the adoption of AI technologies and ensure that these support automation and efficiency gains in UK insurance industry and benefit insurance customers.
A distinctive feature of our project is our deep industry engagement, offering us the opportunity to engage with practitioners across the full range of business functions: in strategic roles; in specific business areas across product lines and operational processes; in risk analytics; and in technology. These contacts will support a range of case studies of the deployment of AI in insurance and also interview, survey and forum style empirical investigations to achieve the full understanding from both these organisational and industry perspectives.
Planned Impact
WHO MIGHT BENEFIT FROM THIS RESEARCH?
Our research is designed for several different user groups:
(a) Staff working across the insurance value chain. Successful technology based business innovation involves changes in both business process and business models and hence (Stephenson 2018 ch 7) requires a combination of expertise: technological (AI and data science), business (responsible for engagement with customers and suppliers) and analytical (e.g. underwriting and risk pricing). Our research - the Delphi interviews in Phase A, the case studies in Phase B, the frameworks and solutions in Phase C - will directly support these staff by providing relevant knowledge and understanding.
(b) Techinsur startups or in new competing technology based challengers, e.g. major internet platforms, who need understanding the insurance value chain and the potential for AI and data technologies. They will particularly benefit from our Phase A mapping and our detailed Phase B case studies.
(c) Senior management in the industry need to shape an appropriate strategic response to this new emerging landscape. Our integrative workpackages in Phase B (WP4.1, WP4.2, WP5.1, WP5.2) together with our Phase C workpackage 6.3 on implementation frameworks are addressed to their needs.
(d) Regulators, compliance officers and policy makers want to support these technological changes, and where possible use them to better achieve regulatory objectives such as customer protection at less cost to the industry.
HOW MIGHT THEY BENEFIT FROM THIS RESEARCH?
Business line and technology staff in UK insurance can gain insight into the organisational and business challenges arising from the application of AI to their products and business processes. They will be able to learn best practice and the factors for successful innovation from our case studies and research based empirical investigations. Risk analytics staff may also benefit from better understanding the opportunities for data-based improvements in risk modelling and underwriting.
Insuretech entrepreneurs can gain from a better understanding, especially from our case studies, of the business requirements for successful new technologies.
Senior management can also gain strategic insight, in particular into changing business models, into the possibilities for co-operative effort to develop standards and supporting technology and for negotiating the potentially transformative impact of technology on the industry as a whole.
Policy makers and line staff in regulatory bodies can benefit from improved understanding of insurance business models and how they are affected by technological change; on recommendations and opportunities for better alignment of regulations with the new technologies; on developing policies for regulation of new business products and technology supported business models; and from understanding and supporting opportunities for using technology to support regulatory compliance
We offer all of these different user groups practical options for promoting the application of AI and data technologies in the UK insurance industry, in the short to medium term at the level of specific business process and over the longer term by influencing the strategic and policy decisions that shape future business models and support industry transformation.
Our research strategy, based on close engagement with our industry partners and co-production of research, provides assurance that our range of research outputs will be relevant to these targeted user groups and, if we do our job well, have the desired medium and long term impact on the future of the UK insurance industry.
Our research is designed for several different user groups:
(a) Staff working across the insurance value chain. Successful technology based business innovation involves changes in both business process and business models and hence (Stephenson 2018 ch 7) requires a combination of expertise: technological (AI and data science), business (responsible for engagement with customers and suppliers) and analytical (e.g. underwriting and risk pricing). Our research - the Delphi interviews in Phase A, the case studies in Phase B, the frameworks and solutions in Phase C - will directly support these staff by providing relevant knowledge and understanding.
(b) Techinsur startups or in new competing technology based challengers, e.g. major internet platforms, who need understanding the insurance value chain and the potential for AI and data technologies. They will particularly benefit from our Phase A mapping and our detailed Phase B case studies.
(c) Senior management in the industry need to shape an appropriate strategic response to this new emerging landscape. Our integrative workpackages in Phase B (WP4.1, WP4.2, WP5.1, WP5.2) together with our Phase C workpackage 6.3 on implementation frameworks are addressed to their needs.
(d) Regulators, compliance officers and policy makers want to support these technological changes, and where possible use them to better achieve regulatory objectives such as customer protection at less cost to the industry.
HOW MIGHT THEY BENEFIT FROM THIS RESEARCH?
Business line and technology staff in UK insurance can gain insight into the organisational and business challenges arising from the application of AI to their products and business processes. They will be able to learn best practice and the factors for successful innovation from our case studies and research based empirical investigations. Risk analytics staff may also benefit from better understanding the opportunities for data-based improvements in risk modelling and underwriting.
Insuretech entrepreneurs can gain from a better understanding, especially from our case studies, of the business requirements for successful new technologies.
Senior management can also gain strategic insight, in particular into changing business models, into the possibilities for co-operative effort to develop standards and supporting technology and for negotiating the potentially transformative impact of technology on the industry as a whole.
Policy makers and line staff in regulatory bodies can benefit from improved understanding of insurance business models and how they are affected by technological change; on recommendations and opportunities for better alignment of regulations with the new technologies; on developing policies for regulation of new business products and technology supported business models; and from understanding and supporting opportunities for using technology to support regulatory compliance
We offer all of these different user groups practical options for promoting the application of AI and data technologies in the UK insurance industry, in the short to medium term at the level of specific business process and over the longer term by influencing the strategic and policy decisions that shape future business models and support industry transformation.
Our research strategy, based on close engagement with our industry partners and co-production of research, provides assurance that our range of research outputs will be relevant to these targeted user groups and, if we do our job well, have the desired medium and long term impact on the future of the UK insurance industry.
Organisations
- Loughborough University (Lead Research Organisation)
- Z/YEN GROUP LIMITED (Collaboration)
- Willis Group (Collaboration)
- SCOR (Collaboration)
- IBM (Collaboration)
- XL Catlin (Collaboration)
- Jaguar Land Rover Automotive PLC (Collaboration)
- BGL Group Limited (Collaboration)
- Price Waterhouse Cooper (Collaboration)
- Lloyds Bank (Collaboration)
Publications
Chen, D.
(2021)
The Palgrave Handbook of Technological Finance
EIOPA´s Consultative Expert Group On Digital Ethics In Insurance
(2021)
ARTIFICIAL INTELLIGENCE GOVERNANCE PRINCIPLES: TOWARDS ETHICAL AND TRUSTWORTHY ARTIFICIAL INTELLIGENCE IN THE EUROPEAN INSURANCE SECTOR A report from EIOPA´s Consultative Expert Group on Digital Ethics in insurance
H Rubin T
(2022)
Big data and data ownership rights: The case of car insurance
in Journal of Information Technology Teaching Cases
Hendrikse R
(2019)
Strategic coupling between finance, technology and the state: Cultivating a Fintech ecosystem for incumbent finance
in Environment and Planning A: Economy and Space
Herbert, I
(2019)
Data Technologies and Next Generation insurance Operations
in Journal of Financial Transformation
Herbert, I. P.
(2020)
Herbert, I.P., Holland, C.P. and Jain, K. (2020) Next Generation Insurance Operations: Talking tough about 'right' data,
in Management Services Journal, Chartered Institute of Management, Summer, pp. 36-39.
Hillier, J.
(2022)
Visions of data sharing in insurance: survey results
Holland C
(2021)
BGL Group: Artificial Intelligence (AI) Strategy
in SSRN Electronic Journal
Holland C
(2021)
Creating Ethics Guidelines for Artificial Intelligence (AI) and Big Data Analytics: The Case of the European Consumer Insurance Market
in SSRN Electronic Journal
| Description | The final year of our project has seen us produce a wide range of further outputs, include further project and case study summaries that will be finalised after this ResearchFish reporting period. Our contributions can be summarised under five key headings, which we link with the acronym TENOR T = Technology in context E - Entrepreneurial ecosystem N - New business models O - Organisational and operational implementation R - Regulation and oversight. We elaborate on each of these. 1. Technology in context. An overall perspective that emerges across our project is the importance of viewing AI and other data technologies in context: the AI technologies per se, whether machine learning, deep learning, natural language processing etc. are powerful tools, but the principal challenges for effective employment of these tools lies not in the development of the technologies per se, but in addressing the wider operational, business, financial and economic barriers to adoption and implementation. This is a core finding across all our case studies and applicable to the full range of retail, commercial and specialist insurance and also (though this has been less a focus of our project) life insurance. An early finding highlighted in our industry event of Nov 2019, is the critical role of data, discussed further under "organisational and operational implementation". More recently, Holland and Kavuri (2021) proposed a hierarchical system-based definition of AI in insurance markets that explicitly defines each element of the AI system, including the core technology of AI hardware, AI software algorithms, within a digital context of MIS, and a business context of processes, products and business models. This model also relates the formal definition of AI insurance systems to ethical and regulatory frameworks. There is no effective AI (artificial intelligence) with out IA (information architecture). This is further reinforced by our work on new business models, where outcomes range widely, depending upon where the business opportunities are found, whether in innovation in data or in operational processes; or in new products or in re-orientation of the insurance value chain (Holland 2019). The theoretical ideas were further developed based on close collaboration with industry leaders, e.g. see the detailed case study analyses of bgl group (Holland 2022), and HUK-COBURG, the leading German automotive insurance firm (Holland 2021). This in turn has policy implications: support for effective adoption requires in particular, investment less in fundamental technology research, and more in the early stage innovation where venture capital and other external funding can be lacking (Milne and Kavuri (2021) critique the Kalifa report on the promotion of UK fintech from this perspective). There are major challenges in developing the requisite human capital skills, wjhere universities can play a central role, ensuring that graduates and executives can get the broader economic, financial and business education required for successful adoption, it is far from being about just training data science specialists, even those are in short supply. 2. Entrepreneurial ecosystems We have continued our investigations of the mechanisms of insurance innovation, exploring the connections and interactions between InsurTech start-ups and incumbent insurance firms. Reinforcing our insight that "it's never the technology on its own" (the T of TENOR) we have shown how start-up innovation is clustered within a number of major technological specialisations. For insurance these are the AI-related technologies, including Machine Learning, Big data, Data Analytics and Software as a Service (SaaS); data analysis and collection especially the Internet of Things and its applications in automotive and transport, buildings and property and health insurance; and the operational systems used across financial services such as those employed for attracting and recruiting customers, for accounting and regulatory compliance. One of the major findings was that it is not only the AI-related technologies that transform the insurance industry, but rather a set of clusters that are fundamental, each cluster with a set of application sectors (insurtech in health, Car industry, property, etc.). Second, we found the cognitive proximity of the core InsurTech startups, that are currently working in insurance - with other Professional Services industries. This means that we are able to map the digital transformation and evolution of this industry. Last, we were able to benchmark the global InsurTech industry and point out the local clusters strength in each region, this has potential implication for regional policy and investors. We have also investigated the co-operation between InsurTech start-ups and incumbents, where major insurance firms are courting and supporting innovation through incubators and accelerators and co-operating with start-ups to realise business benefits. Thus, in insurance the 'start-up' ecosystem is a broad one, working through engagement with established industry players alongside the requirements for skills and capacity in data science, computer science, entrepreneurial and venture capital skills and capacity. Our case study work reveals that the large majority of InsurTechs are not seeking to be insurers themselves, but are rather collaborating with incumbents to improve efficiency and support transformative change. A small number of InsurTechs are seeking to provide new forms of insurance cover themselves, but few of these have yet proven their ability to scale. 3. New business models. In the first two years of the project we developed a framework for understanding the impact of AI and data technologies on the insurance industry. This identifies four critical perspectives that need to be considered for successful data technology innovation. Two are where specialised staff and new investments are required: (i) the technology itself including hardware for data collection (such as IoT sensors, health trackers or telematics data) as well as the wide range of AI processing solutions; and (ii) application to existing business process data to which the technology is applied, which could include customer or client data, claims history, fraud investigations, together with its supporting data infrastructure ensuring it is accessible in a useable format. Two are "impact areas", to which the efforts of the specialised staff and technology must be aligned, in order for successful adoption: (iii) specific business benefits in terms of either greater efficiency, such as improved customer experience or reduced processing costs, or new exploiting new profitable product opportunities; and (iv) wider business consequences, including strengthening competitive position in the market place, realising economies of scale through platformisation; opportunities for reshaping business interactions in the insurance value chain; fundamental digital reengineering of business processes and potentially disruptive innovation in which new entrants displace incumbent firms, see Holland (2019). In the final year of our research we have now developed this framework further, with several supporting case studies of leading international insurance firms, including bgl group (Holland 2022), HUK-COBURG (Holland 2021), and Ping An (Holland and Kavuri 2021). Much of the early AI innovation in insurance was characterised by relatively limited innovation with specific business benefits and highly focused AI applications - these applications are still relevant and are still being implemented across a range of narrowly defined business processes such as customer sign-on, claims, fraud detection, and e-service. We also find examples of a substantial 'transformative' industry impact and indications of an increasing impact of technology on both consumer and commercial insurance, e.g. see the advanced use of data at scale by TESLA and Ping An (Holland and Kavuri 2021), across all of their insurance-related business processes. 4. Organisational and operational implementation. Our research highlights the challenges of organisational and operational implementation. The application of AI in the insurance industry is a central part of the broader and ongoing adoption of data technologies ,using data analytics and data science to provide new products and services, improve customer experience and reduce costs and delays in operational processing. Effective implementation requires co-operation across the organisation by echnical specialist in data science, business managers and operations. The challenge of co-operation also extends to co-operation between firms. Data sharing between companies to improve operational efficiency and reshape the insurance value chain. Insurance markets are networks defined by the contracts agreed between the insured and insurance firms and by the exchange of information between the customer and the different organisations in the insurance value chain. A range of new emerging models of data exchange are now emerging, disrupting the traditional arrangement of customer - insurance broker - insurance carrier - reinsurer. As insurance operations become increasingly digital, shifting from paper and .pdf-based record keeping to online 'end to end' digital processing, the use of electronic marketplaces is spreading, moving beyond their application in C2B for example in comparison websites into B2B insurance (a forthcoming post project case study on the Lloyd's Blueprint II digital transformation illustrates this). Further, more fundamental change is also in prospects in some areas of the industry, with shared data standards supporting "smart business networks" where there is a common commercial interest is 'orchestrated' by a major firm, creating an efficient sub-market and the potential for emergence of 'data platforms' curated by bigtech platforms offering insurance alongside a range of other financial and commercial services. Insurance firms are also advancing towards greater sharing of data through 'data trusts' in particular areas such as claims process, fraud prevention and some aspects of risk analysis 5. Regulation and oversight Our project has examined two aspects of technology oversight: first the use of data and AI technologies in insurance regulation; and second the effective regulation and oversight of AI and other data technologies. Here the issues are not particularly insurance specific, they arise across all financial services, so our outputs range across financial services. We have developed an innovative framework for incorporating technology in financial services regulation, building on the established new governance approaches to financial regulation and co-operation between regulators and firms (McNulty, Miglionico and Milne (2022)). We have also explored the specific opportunities for applying technology in insurance regulation (McNulty and Milne (2022)), highlighting opportunities in prudential regulation of life insurance and in conduct of business regulation, work that we are following up in a small project with the Willis Towers Watson research network. At the same time we have explored the challenges of 'responsible AI', with a range of outputs including our contributions to the June 2021. EIOPA's Consultative Expert Group on Digital Ethics in insurance and further workshops. |
| Exploitation Route | Our analyses of the challenges of successful technology adoption in insurance offer lessons both for the insurance industry and, more widely, across financial and other data-orientated services industries. Specifically, our work has highlighted the critical role of co-ordinated change in the shift from traditional paper and manual processes to AI and automated digital business processes. This is a challenge within organisations: ensuring that innovation is not left to a narrow group of technologist, but assigned as a core task for operational and product managers, with senior management ensuring the necessary orchestration of changes across the firm for successful innovation. It is an even greater challenge at industry level, requiring both co-operation between firms and regulatory-industry dialogue to ensure that regulatory requirements align with rather than impede ongoing digital and AI transformation. We are already taking this work forward further, with ongoing collaboration with Willis Towers Watson exploring the application of artificial intelligence to industrial and commercial property insurance. We are working to maintain our network of industry contacts through the year ahead and find opportunities to build on the outputs of TECHNGI. Similar insights have emerged from our sister projects in the UKRI 'Next Generation Services' NGS Challenge that has supported the TECHNGI project: those on Unlocking the potential of AI for English law: investigating the potential and limitations of using AI in support of legal services at the University of Oxford and on Innovating next generation services through collaborative design: developing strategies for implementing AI in law and accountancy services at Oxford Brookes university. Key further outputs are developing recommendations on carrying this work forward and the research mechanisms that can do this best. Our summary of views at this point are as follows: • The need for independent university research on digital transformation of service industries. There is substantial consultancy and practitioner orientated analyses of innovation challenges in insurance and other service industries; but these have some major limitations. Most have a rather narrow focus on specific but isolated innovation opportunities; or are rather speculative but subjective through pieces of technological future-scanning. They are also naturally revenue orientated, motivated by the marketing of either particular Insurtech solutions or in the hope of offering paid technology advice and education. For UK PLC to have an effective culture of business innovation and retain its global competitiveness in services industries, requires critical and commercially independent strategic and policy analysis of the kind developed in both our own and our sister NGS projects. University based research on AI-related technologies, Digital Transformation and strategies will never be as well resourced as this private sector analysis. It is though an essential complementary contribution: both more empirically rigorous and tested, using big data analysis, case studies, focus groups and interviews; and providing a much wider perspective than private sector research informed by scholarship on broader business strategy and policy in business and management, law and economics and finance. Commercially independent work of this kind needs to be continued as part of the digital transformation of global Britain. • The importance of maintaining and growing the capacity in this area already established. Our contribution - in contrast to some related harder science work conducted in computer science and other STEM disciplines -- is 'soft' business and public policy research. It offers insight and understanding of business models, culture and operations and of regulation and policy and their impacts on innovation. Insights of this kind are inadequately captured in patents and research publications. Much remains within the community of research practice and their experience and industry contacts. These insights will depreciated without ongoing support for an active community of engaged scholarship, advocacy and executive education, conducted like our own research in partnership with industry and policy makers, addressing the challenges of innovation in services industries. We need to build on what has already been achieved in these three projects with further conceptual and empirical research on technology and service industries supported by engagement with policy makers and practitioners; and producing policy and strategy analysis alongside more conventionally recognised academic research outputs. With increasingly tight fiscal constraints on research funding this may be best funded through 'public-private' partnership, but there will still be a substantial barrier to be overcome, persuading private industry to invest on a sufficiently large scale, given that these outputs are public not commercial benefits. |
| Sectors | Digital/Communication/Information Technologies (including Software),Financial Services, and Management Consultancy,Government, Democracy and Justice,Other |
| URL | https://www.techngi.uk/ |
| Description | Our research outputs and webpages continue to be used by insurance firms in the relatively early stages of adoption of AI and data technologies in their business, providing them with insight into the experience of adoption across the industry. Our analysis of high-performance AI insurance systems, which identified the AI data flywheel effect, has been published in the Journal of Financial Transformation, a high-impact, business-focused journal that is aimed at practising managers and technologists, and leaders in financial services, see Holland and Kavuri (2021). We also have a number of specific impacts that have emerged over the past 24 months. Our work has been used to provide a conceptual and analytical basis for the policies on ethical and transparent artificial intelligence of the European Insurance and Occupational Pensions regulator EIOPA. See the recent publication by EIOPA, https://www.eiopa.europa.eu/media/news/eiopa-publishes-report-artificial-intelligence-governance-principles_en, which references the Loughborough research into the customer lifecycle model of AI applications in insurance. The customer lifecycle model has also been published in a prestigious IEEE conference, see Holland (2022). In addition, the work on AI and ethics in insurance has been further developed with other members of the EU consultative expert group and published in Patterns, an inter-disciplinary journal that focuses on applied research - see Mullins et al. (2021). In the past 12 months we have followed upon our work with the IBM garage workshop and our work on secure data access and data sharing with the Willis Towers Watson WTW research network. We have further developed a prototype data market place that can facilitate secure access to data by AI and other data technologies by startups working in insurance and other sectors. This is attracting initial interest from incumbents and startups. An example of joint work with Willis Towers Watson is the work on data sharing models in the insurance value chain, which is closely related to the IBM-sponsored workshops and prototype development. The joint research with senior managers from WTW was published by the WTW Research Network, Holland et al. (2021), which is widely read by senior managers in global insurance markets, and is actively promoted via WTW's international network of 500k+ followers on LinkedIn. Our analysis of regulatory technology in insurance and other industries is finding an audience, with the regulators , the PRA and FCA and the Association of British Insurers. It has also has fed into the work of lobby groups such as the Transparency Task force on using technology to promote transparency in financial services. This is being followed up with a further small follow up grant from the WTW Research Network exploring the technology aspects of the new FCA consumer duty and oversight of customer outcomes in insurance and banking. Finally, the partnership with WTW has led to the co-financing with Loughborough university of the TECHGI WTW Centre for Doctoral Training in Technology and Commercial Insurance https://www.techngi.uk/mini-college-of-doctoral-training/ . This will run until Sept 2026 and support at least seven PhD students working on applications and implications of technology in industrial property and other areas of commercial insurance. |
| First Year Of Impact | 2021 |
| Sector | Financial Services, and Management Consultancy |
| Impact Types | Economic,Policy & public services |
| Description | EIOPA Consultative Expert Group on Digital Ethics in insurance (C Holland) |
| Geographic Reach | Europe |
| Policy Influence Type | Membership of a guideline committee |
| URL | https://www.eiopa.europa.eu/ |
| Description | European Insurance and Occupational Pension Authority (EIOPA). |
| Geographic Reach | Europe |
| Policy Influence Type | Membership of a guideline committee |
| Description | Membership of ICC (International Chamber of Commerce) |
| Geographic Reach | Multiple continents/international |
| Policy Influence Type | Contribution to new or improved professional practice |
| Description | Membership of TAPP network |
| Geographic Reach | Multiple continents/international |
| Policy Influence Type | Participation in a guidance/advisory committee |
| Description | Response to the European Commission's Consultation on AI |
| Geographic Reach | Europe |
| Policy Influence Type | Membership of a guideline committee |
| URL | https://ec.europa.eu/info/law/better-regulation/have-your-say/initiatives/12270-White-Paper-on-Artif... |
| Description | UK National Data Strategy consultation |
| Geographic Reach | National |
| Policy Influence Type | Contribution to a national consultation/review |
| Description | TECHNGI-CDT is a newly formed CDT jointly funded between Loughborough University and Willis Towers Watson providing 6 Studentships developing on from the research completed by TECHNGI |
| Organisation | Willis Group |
| Country | United Kingdom |
| Sector | Private |
| PI Contribution | This newly established centre - jointly funded by WTW Research Network and Loughborough University - is offering full fee PhD scholarships for research on the adoption of digital technologies in Industrial and Commercial Property Insurance. It builds on the earlier co-operation between WTW Research Network and Loughborough University in the now completed TECHNGI research project on technologies and next generation insurance. The centre will run from July 2022 until Sept 2026, with a total of six students joining in two cohorts. The research topics together form a cross-disciplinary program of research examining foundational questions about the application of digital technologies in industrial and commercial property insurance. We envisage this initial research as the incubation of a broader industry effort to adopt digital tools in insurance risk assessment and operations (e.g. on agreed benchmarks for consistency, independently contributed open-source code, the development of software tools). The young researchers who graduate from this program will be ideally placed for playing leading roles in the digital transformation of industrial and commercial property over the years ahead. The centre itself will allow students to pursue their individual research topics under the umbrella of a broader academic- industry student community, all addressing the challenges of digital transformation in property insurance. This community will bring the research students and their supervisors together, typically virtually but also in face-to-face meetings, with a range of other researchers and practitioners engaged in related work. The PhD scholarships also include funding for relevant field work costs, scholarly engagement through conferences and external training. The three students in the first cohort will be registered in Civil Engineering, Computer Science and in Business and Economics and offered cross school supervision so they are exposed to different disciplinary perspectives. |
| Collaborator Contribution | The research will be conducted in close co-operation with the WTW Research Network and their parent, the global insurance broker WTW, with each student having an industrial supervisor or advisor as well as academic supervisors, access to relevant data through WTW and engagement with practitioners throughout their studies. |
| Impact | The Centre has two studentships in progress and three studentships commencing July and October 2023. Outputs include the acceptance of a conference paper \(details not yet available). The collaboration is multi-disciplinary; Civil Engineering, Computer Science, Business and Economics, Geography, Physics. |
| Start Year | 2022 |
| Description | Techngi Industry Partner - BGL Group Limited |
| Organisation | BGL Group Limited |
| Country | United Kingdom |
| Sector | Private |
| PI Contribution | Engagement with industry to determine implications of AI within Insurance Sector |
| Collaborator Contribution | Insight into application of AI and support of case study. Provision of resources over two year project (staff time and hosting of meetings). |
| Impact | Attendance at quarterly meetings. Meetings with TECHNGI team. |
| Start Year | 2019 |
| Description | Techngi Industry Partner - IBM UK |
| Organisation | IBM |
| Department | IBM UK Ltd |
| Country | United Kingdom |
| Sector | Private |
| PI Contribution | Engagement with industry to determine implications of AI within Insurance Sector |
| Collaborator Contribution | Insight into application of AI and support of case study. Provision of resources over two year project (staff time and hosting of meetings). |
| Impact | Attendance at quarterly meetings. Bi-lateral meetings with team members. Focus group support. |
| Start Year | 2019 |
| Description | Techngi Industry Partner - Jaguar Land Rover Automotive PLC |
| Organisation | Jaguar Land Rover Automotive PLC |
| Department | Jaguar Land Rover |
| Country | United Kingdom |
| Sector | Private |
| PI Contribution | Engagement with industry to determine implications of AI within Insurance Sector |
| Collaborator Contribution | Input from Company ceased due to business demands |
| Impact | Input from Company ceased due to business demands |
| Start Year | 2019 |
| Description | Techngi Industry Partner - Lloyds, London |
| Organisation | Lloyds Bank |
| Country | United Kingdom |
| Sector | Private |
| PI Contribution | Engagement with industry to determine implications of AI within Insurance Sector |
| Collaborator Contribution | Insight into application of AI and support of case study. Provision of resources over two year project (staff time and hosting of meetings). |
| Impact | Attending quarterly partnership meetings. |
| Start Year | 2019 |
| Description | Techngi Industry Partner - Pricewaterhouse Coopers LLP |
| Organisation | Price Waterhouse Cooper |
| Country | United Kingdom |
| Sector | Private |
| PI Contribution | Engagement with industry to determine implications of AI within Insurance Sector |
| Collaborator Contribution | Insight into application of AI and support of case study. Provision of resources over two year project (staff time and hosting of meetings). |
| Impact | Attendance at quarterly meetings. Bi-lateral meetings. Case study development. |
| Start Year | 2019 |
| Description | Techngi Industry Partner - SCOR Global |
| Organisation | SCOR |
| Country | France |
| Sector | Private |
| PI Contribution | Engagement with industry to determine implications of AI within Insurance Sector |
| Collaborator Contribution | Insight into application of AI and support of case study. Provision of resources over two year project (staff time and hosting of meetings). |
| Impact | Quarterly meeting attendance and contact with team member J Hillier |
| Start Year | 2019 |
| Description | Techngi Partner - Z/Yen |
| Organisation | Z/Yen Group Limited |
| Country | United Kingdom |
| Sector | Private |
| PI Contribution | Engagement with industry to determine implications of AI within Insurance Sector |
| Collaborator Contribution | Insight into application of AI within insurance industry. |
| Impact | Attendance at quarterly meetings. |
| Start Year | 2019 |
| Description | Techngi industry partner - Willis Towers Watson |
| Organisation | Willis Group |
| Department | Willis Research Network |
| Country | United Kingdom |
| Sector | Private |
| PI Contribution | Research team has fully engaged with Partner and work collaboratively to ensure specific tasks are completed. Team engage with Partner to determine objectives and outputs. |
| Collaborator Contribution | Partner has made significant contributions to supporting research project. Provision of venue in London office to hold TECHNGI conference, provision of staff time to organise event, provision of videographer, provision of refreshments at event at reduced cost. Advertising and associated PR of event to Willis network. Commitment of role as Partner to group. |
| Impact | Huge attendance at the Techngi conference hosted by Willis. Total of 300+ attendees from industry. Prompted many more to make contact with group. |
| Start Year | 2019 |
| Description | XL Catlin Services SE (AXA) |
| Organisation | XL Catlin |
| Country | United Kingdom |
| Sector | Private |
| PI Contribution | Engagement with industry to determine the implications of AI within the insurance sector |
| Collaborator Contribution | Insight into application of AI and support of case study. |
| Impact | Still active |
| Start Year | 2020 |
| Description | A Milne - FinTech |
| Form Of Engagement Activity | Participation in an activity, workshop or similar |
| Part Of Official Scheme? | No |
| Geographic Reach | National |
| Primary Audience | Industry/Business |
| Results and Impact | A Milne - initial engagement with FinTech |
| Year(s) Of Engagement Activity | 2019 |
| Description | A Milne Meeting with RegTech Council FCA & PRA |
| Form Of Engagement Activity | A formal working group, expert panel or dialogue |
| Part Of Official Scheme? | No |
| Geographic Reach | National |
| Primary Audience | Industry/Business |
| Results and Impact | A Milne attends meeting to ascertain views of industry. |
| Year(s) Of Engagement Activity | 2019 |
| Description | A Milne co-hosting round table at Global Insuretech CXO forum |
| Form Of Engagement Activity | A formal working group, expert panel or dialogue |
| Part Of Official Scheme? | No |
| Geographic Reach | International |
| Primary Audience | Industry/Business |
| Results and Impact | 2. Alistair Milne co-hosting a roundtable at the Global Insuretech CXO Forum, sponsored by EXL. https://fintech.global/globalinsurtechsummit/agenda/ Audience 20. Date 4th March 2020 |
| Year(s) Of Engagement Activity | 2020 |
| URL | https://fintech.global/globalinsurtechsummit/agenda/ |
| Description | A Milne meeting with EXL Services to discuss adoption of AI in insurance (19/02/2020) |
| Form Of Engagement Activity | Participation in an activity, workshop or similar |
| Part Of Official Scheme? | No |
| Geographic Reach | National |
| Primary Audience | Industry/Business |
| Results and Impact | 1. Alistair Milne with EXL services, a leading technology consultancy specialising in insurance and health care. Discussed adoption of AI in insurance. |
| Year(s) Of Engagement Activity | 2020 |
| Description | A Milne meeting with Willis Towers Watson staff to discuss Digital Technology and RegTech in insurance industry (20/03/2020) |
| Form Of Engagement Activity | Participation in an activity, workshop or similar |
| Part Of Official Scheme? | No |
| Geographic Reach | National |
| Primary Audience | Industry/Business |
| Results and Impact | 3. Alistair Milne , conference call with 4 staff member of Willis Towers Watson to discuss Digital Technology and RegTech in the insurance industry Date March 20th, 2020 |
| Year(s) Of Engagement Activity | 2020 |
| Description | Article published in 'The Conversation' - A Zarifis 31/01/2020 |
| Form Of Engagement Activity | A magazine, newsletter or online publication |
| Part Of Official Scheme? | No |
| Geographic Reach | International |
| Primary Audience | Media (as a channel to the public) |
| Results and Impact | Article within business sector highlighting impact on AI and insurance for Tesla drivers. |
| Year(s) Of Engagement Activity | 2020 |
| URL | https://theconversation.com/why-is-tesla-selling-insurance-and-what-does-it-mean-for-drivers-130910 |
| Description | Brown Bag events |
| Form Of Engagement Activity | A talk or presentation |
| Part Of Official Scheme? | No |
| Geographic Reach | Local |
| Primary Audience | Other audiences |
| Results and Impact | TECHNGI has held regular Brown Bag meetings to discuss research themes, debate research and disseminate research findings. Presentations are delivered from each work stream prior to publication. The research team regularly engage with policy makers, industry and business professionals and these meetings develop ideas to discuss with industry or incorporate discussions of feedback. Primarily this has been as the research team but external guests have also attended. |
| Year(s) Of Engagement Activity | 2020,2021 |
| Description | C Holland - Article published in Willis Towers Watson Newsletter (Nov 2019) |
| Form Of Engagement Activity | A magazine, newsletter or online publication |
| Part Of Official Scheme? | No |
| Geographic Reach | International |
| Primary Audience | Industry/Business |
| Results and Impact | Article by C Holland |
| Year(s) Of Engagement Activity | 2019 |
| URL | https://www.willistowerswatson.com/en-GB/Insights/2019/11/artificial-intelligence-ai-and-emerging-bu... |
| Description | C Holland - InsureTech matchmaking event hosted by AI for Services (30/01/2020) |
| Form Of Engagement Activity | Participation in an activity, workshop or similar |
| Part Of Official Scheme? | No |
| Geographic Reach | National |
| Primary Audience | Industry/Business |
| Results and Impact | C Holland presented on Panel and discussed ideas with six Insurance start ups at event hosted by AI for Services. |
| Year(s) Of Engagement Activity | 2020 |
| Description | C Holland and P Kawalek attend Annual Willis Towers Watson Research Network conference as panel members and to present. 20 May 2021 |
| Form Of Engagement Activity | Participation in an activity, workshop or similar |
| Part Of Official Scheme? | No |
| Geographic Reach | International |
| Primary Audience | Industry/Business |
| Results and Impact | C Holland and P Kawalek attend Annual Willis Towers Watson conference as panel members and to present. 20 May 2021 https://www.willistowerswatson.com/en-GB/Insights/campaigns/15-years-of-science-for-resilience https://players.brightcove.net/5728959027001/B12A5zfPz_default/index.html?videoId=6257788753001 |
| Year(s) Of Engagement Activity | 2021 |
| URL | https://www.willistowerswatson.com/en-GB/Insights/campaigns/15-years-of-science-for-resilience |
| Description | C Holland attends UK Westminster Forum, London |
| Form Of Engagement Activity | A formal working group, expert panel or dialogue |
| Part Of Official Scheme? | No |
| Geographic Reach | National |
| Primary Audience | Policymakers/politicians |
| Results and Impact | C Holland attends discussion 'Competition in the Digital Economy', UK Westminster Forum, London (10/09/2019) |
| Year(s) Of Engagement Activity | 2019 |
| Description | C Holland meeting with BGL Group |
| Form Of Engagement Activity | A talk or presentation |
| Part Of Official Scheme? | No |
| Geographic Reach | National |
| Primary Audience | Industry/Business |
| Results and Impact | C Holland meets with BGL to provide briefing on AI. Productive discussion to clarify current AI assumptions. |
| Year(s) Of Engagement Activity | 2019 |
| Description | C Holland meeting with Dr J Taylor, Pricewaterhouse Coopers |
| Form Of Engagement Activity | A talk or presentation |
| Part Of Official Scheme? | No |
| Geographic Reach | National |
| Primary Audience | Industry/Business |
| Results and Impact | C Holland meets J Taylor to plan position paper on development of AI in Insurance. |
| Year(s) Of Engagement Activity | 2019 |
| Description | Conference on artificial intelligence with Willis Towers Watson |
| Form Of Engagement Activity | Participation in an activity, workshop or similar |
| Part Of Official Scheme? | No |
| Geographic Reach | National |
| Primary Audience | Industry/Business |
| Results and Impact | great day, lots of interest |
| Year(s) Of Engagement Activity | 2019 |
| Description | Digital Technology and RegTech in the insurance industry - workshop with Willis Towers Watson (A Milne) |
| Form Of Engagement Activity | Participation in an activity, workshop or similar |
| Part Of Official Scheme? | No |
| Geographic Reach | National |
| Primary Audience | Industry/Business |
| Results and Impact | Discussions with Willis Towers Watson regarding Digital Technology and RegTech in the insurance industry. |
| Year(s) Of Engagement Activity | 2020 |
| Description | Digitalisation Roadmap Research on behalf of the Institute of Digital Engineering (C Holland) |
| Form Of Engagement Activity | A formal working group, expert panel or dialogue |
| Part Of Official Scheme? | No |
| Geographic Reach | National |
| Primary Audience | Professional Practitioners |
| Results and Impact | Digitalisation Roadmap Research on behalf of the Institute of Digital Engineering. Objective: Develop the roadmap for the implementation of digital technologies needed to accelerate our ability to innovate, engineer and manufacture the next generation of highly complex products. There are clear synergies between the two projects in terms of value chain concepts, AI technology, data and implementation Critical Success Factors (CSFs), notably skills and the structure of AI systems, and key differences in the role of data in engineering and insurance contexts. |
| Year(s) Of Engagement Activity | 2020 |
| Description | EIOPA Committee meetings attended by C Holland |
| Form Of Engagement Activity | A formal working group, expert panel or dialogue |
| Part Of Official Scheme? | No |
| Geographic Reach | International |
| Primary Audience | Policymakers/politicians |
| Results and Impact | Attendance of European Insurance and Occupational Pension Authority (EIOPA) main committee on AI and Ethics Main committee meeting to discuss the draft report on AI and ethics in insurance. Attendance of sub-committee meeting to discuss AI use cases. TECHNGI contribution is on human oversight examples for claims management and loss prevention insurance processes. These are being used in the report on AI and ethics, to be published Spring, 2021 |
| Year(s) Of Engagement Activity | 2020 |
| Description | EIOPA Conference, Frankfurt 08/10/2019 |
| Form Of Engagement Activity | Participation in an activity, workshop or similar |
| Part Of Official Scheme? | No |
| Geographic Reach | International |
| Primary Audience | Industry/Business |
| Results and Impact | C Holland attends EIOPA Conference. Prompts debate and gauges common issues within industry sector. |
| Year(s) Of Engagement Activity | 2019 |
| Description | EIOPA attendance by C Holland as part of Consultative Expert Group on Digital Ethics in insurance |
| Form Of Engagement Activity | A formal working group, expert panel or dialogue |
| Part Of Official Scheme? | No |
| Geographic Reach | International |
| Primary Audience | Policymakers/politicians |
| Results and Impact | EIOPA attendance by C Holland as part of Consultative Expert Group on Digital Ethics in insurance on 21/09/2021 |
| Year(s) Of Engagement Activity | 2021 |
| Description | Focus group meetings with Willis Towers Watson (data sharing project) (J Hillier) |
| Form Of Engagement Activity | A formal working group, expert panel or dialogue |
| Part Of Official Scheme? | No |
| Geographic Reach | National |
| Primary Audience | Industry/Business |
| Results and Impact | Focus group meetings with Willis Towers Watson to discuss and define the data sharing project. |
| Year(s) Of Engagement Activity | 2020 |
| Description | Global Insuretech CXO forum co-hosted by A. Milne (March 2020) |
| Form Of Engagement Activity | A formal working group, expert panel or dialogue |
| Part Of Official Scheme? | No |
| Geographic Reach | International |
| Primary Audience | Industry/Business |
| Results and Impact | A Milne co-hosts Global Insuretech CXO forum. |
| Year(s) Of Engagement Activity | 2020 |
| Description | IBM Focus Workshop |
| Form Of Engagement Activity | Participation in an activity, workshop or similar |
| Part Of Official Scheme? | No |
| Geographic Reach | National |
| Primary Audience | Industry/Business |
| Results and Impact | Workshop to gauge industry needs. |
| Year(s) Of Engagement Activity | 2019 |
| Description | Industry engagement British standards Institute January 4 |
| Form Of Engagement Activity | A formal working group, expert panel or dialogue |
| Part Of Official Scheme? | No |
| Geographic Reach | Local |
| Primary Audience | Industry/Business |
| Results and Impact | Industry engagement British standards Institute January 4 |
| Year(s) Of Engagement Activity | 2022 |
| Description | Industry engagement London Markets Forum Technology Summit October 14 |
| Form Of Engagement Activity | A formal working group, expert panel or dialogue |
| Part Of Official Scheme? | No |
| Geographic Reach | Local |
| Primary Audience | Industry/Business |
| Results and Impact | Industry engagement London Markets Forum Technology Summit October 14 |
| Year(s) Of Engagement Activity | 2021 |
| Description | Industry engagement with Data Swift (R Maull) 02/11/2021 |
| Form Of Engagement Activity | A formal working group, expert panel or dialogue |
| Part Of Official Scheme? | No |
| Geographic Reach | National |
| Primary Audience | Industry/Business |
| Results and Impact | Discussion and dissemination of research. Initial meeting has led to further meetings since. Collaboration for further activity. |
| Year(s) Of Engagement Activity | 2021 |
| Description | InsTech Conference - Emerging platforms and eco systems, London 22/10/2019 |
| Form Of Engagement Activity | Participation in an activity, workshop or similar |
| Part Of Official Scheme? | No |
| Geographic Reach | National |
| Primary Audience | Industry/Business |
| Results and Impact | Attendance to gain insight into core topics for Phase A. |
| Year(s) Of Engagement Activity | 2019 |
| Description | Insuring The Next Pandemic Webinar (A Milne) |
| Form Of Engagement Activity | A broadcast e.g. TV/radio/film/podcast (other than news/press) |
| Part Of Official Scheme? | No |
| Geographic Reach | National |
| Primary Audience | Industry/Business |
| Results and Impact | Financial Services Club webinar: In this webinar, Alistair will address the issues involved in using state pooling of pandemic risks (similar to that for terrorism risks Pool-Re and flooding risk Flood-Re), distinguishing the role of insurance companies in assessing and processing claims from the risk absorption role which requires state participation. His discussion draws on lessons from past work on 'disaster risk finance', developed at the World Bank Global Facility for Disaster Protection and Recovery and elsewhere for earthquakes and other natural hazards. |
| Year(s) Of Engagement Activity | 2020 |
| URL | https://fsclub.zyen.com/events/webinars/insuring-next-pandemic/ |
| Description | Insurtech Europe Conference, London 14/10/2019 |
| Form Of Engagement Activity | Participation in an activity, workshop or similar |
| Part Of Official Scheme? | No |
| Geographic Reach | International |
| Primary Audience | Industry/Business |
| Results and Impact | Presentation to industry by MVM and TR |
| Year(s) Of Engagement Activity | 2019 |
| Description | Interview with Alistair Milne on Willis Towers Watson Research Network website |
| Form Of Engagement Activity | A broadcast e.g. TV/radio/film/podcast (other than news/press) |
| Part Of Official Scheme? | No |
| Geographic Reach | International |
| Primary Audience | Industry/Business |
| Results and Impact | Spotlight on Alistair Milne - interview by Willis Towers Watson, London |
| Year(s) Of Engagement Activity | 2019 |
| URL | https://www.willistowerswatson.com/en-GB/Insights/2019/12/willis-research-network-spotlight-series-a... |
| Description | Interview with CEO of Amazon business to business. (R Maull) 30/11/2021 |
| Form Of Engagement Activity | A press release, press conference or response to a media enquiry/interview |
| Part Of Official Scheme? | No |
| Geographic Reach | National |
| Primary Audience | Industry/Business |
| Results and Impact | Public outreach activity: Interview with CEO of Amazon business to business. Video produced and promoted via Amazon business to business |
| Year(s) Of Engagement Activity | 2022 |
| Description | John Stewart, Royal Bank of Scotland Industry engagement April 15 |
| Form Of Engagement Activity | A formal working group, expert panel or dialogue |
| Part Of Official Scheme? | No |
| Geographic Reach | Local |
| Primary Audience | Industry/Business |
| Results and Impact | This was Royal Bank of Scotland Industry engagement (with John Stewart) April 15th |
| Year(s) Of Engagement Activity | 2021 |
| Description | KTN - AI for Services Academic Exchange (October 2020) (A Milne, C Holland, T Rubin, P Timms) |
| Form Of Engagement Activity | Participation in an activity, workshop or similar |
| Part Of Official Scheme? | No |
| Geographic Reach | National |
| Primary Audience | Industry/Business |
| Results and Impact | TECHNGI members presented and moderated at the following event: In partnership with University of Oxford, Loughborough University and Oxford Brookes University, our AI for Services team is hosting a virtual exchange webinar to disseminate the latest academic research on how service industries can make use of AI in accountancy, insurance and law.This event is particularly relevant for professionals working in the accountancy, insurance and legal sectors, Artificial Intelligence & Data entrepreneurs, data scientists and engineers looking to follow an evidence-based approach to make better business decisions. This interactive session will offer businesses the opportunity to learn about the Next Generation Services Challenge funded research project outcomes and discuss ways to apply research findings in their business strategy and activities. |
| Year(s) Of Engagement Activity | 2020 |
| URL | https://ktn-uk.org/events/ai-for-services-academic-research-virtual-exchange/ |
| Description | KTN Podcast - T Rubin interviewed regarding TECHNGI |
| Form Of Engagement Activity | Engagement focused website, blog or social media channel |
| Part Of Official Scheme? | No |
| Geographic Reach | National |
| Primary Audience | Professional Practitioners |
| Results and Impact | KTN Podcast - T Rubin interviewed regarding TECHNGI |
| Year(s) Of Engagement Activity | 2021 |
| Description | KTN event, ''AI for Services: Academic Research Virtual Exchange'' workshop moderated by T Rubin |
| Form Of Engagement Activity | Participation in an activity, workshop or similar |
| Part Of Official Scheme? | No |
| Geographic Reach | International |
| Primary Audience | Industry/Business |
| Results and Impact | Moderator of workshop to ensure knowledge dissemination between academia to industry, in both directions. |
| Year(s) Of Engagement Activity | 2020 |
| URL | https://ktn-uk.org/events/ai-for-services-academic-research-virtual-exchange/ |
| Description | Legal & General workhop - Short talk on role of financing and use of pension funds for housing |
| Form Of Engagement Activity | A formal working group, expert panel or dialogue |
| Part Of Official Scheme? | No |
| Geographic Reach | National |
| Primary Audience | Industry/Business |
| Results and Impact | Short talk on role of financing and use of pension funds for housing |
| Year(s) Of Engagement Activity | 2021 |
| Description | Lloyds London - Workshop |
| Form Of Engagement Activity | Participation in an activity, workshop or similar |
| Part Of Official Scheme? | No |
| Geographic Reach | National |
| Primary Audience | Industry/Business |
| Results and Impact | Initial debate and questions to determine Phase A |
| Year(s) Of Engagement Activity | 2019 |
| Description | Lloyds workshop (24/04/2019) |
| Form Of Engagement Activity | A talk or presentation |
| Part Of Official Scheme? | No |
| Geographic Reach | National |
| Primary Audience | Industry/Business |
| Results and Impact | TECHNGI group attend Lloyds workshop to exchange ideas and debate initial research issues. |
| Year(s) Of Engagement Activity | 2019 |
| Description | M Van-Meeteren and J Hillier meting with Broughtbymany |
| Form Of Engagement Activity | Participation in an activity, workshop or similar |
| Part Of Official Scheme? | No |
| Geographic Reach | National |
| Primary Audience | Industry/Business |
| Results and Impact | Group memebers meet with Broughtbymany as interview for case study |
| Year(s) Of Engagement Activity | 2019 |
| Description | MarketSpace workshop with representatives from b3i, Grant Thornton, University of Limerick and EIOPA (C Holland, A Kavuri) |
| Form Of Engagement Activity | Participation in an activity, workshop or similar |
| Part Of Official Scheme? | No |
| Geographic Reach | National |
| Primary Audience | Industry/Business |
| Results and Impact | MarketSpace workshop with representatives from b3i, Grant Thornton, University of Limerick and Prof. Mirko Kraft, EIOPA AI and data ethics expert. Individual interviews also conducted with experts who were unavailable for the workshop on 8th December. 3/12/20 Pedro Ecija Serrano, Head of Actuarial and Data Analytics, Grant Thornton, Ireland. 10/12/20 Dr. Barry Sheehan, formerly Hannover Re:, now academic at Limerick. 17/12/20 Clifford McDowell, Founder and CEO Doorda, Government data platform. This is used by AI start-ups to develop services in insurance in areas such as property insurance, consumer credit scores and SME marketing. 23/12/20 Rakesh Krishnan, Director at Incited, data and software engineering, data analytics in professional services. Formerly product manager at Polaris, data standards in the insurance market. |
| Year(s) Of Engagement Activity | 2020,2021 |
| Description | Meeting with ABI D Minty (M King) |
| Form Of Engagement Activity | A formal working group, expert panel or dialogue |
| Part Of Official Scheme? | No |
| Geographic Reach | National |
| Primary Audience | Industry/Business |
| Results and Impact | Discussed Ethics and Insurance consultancy activities and issues Industry face. He provided a steer for our research objectives. |
| Year(s) Of Engagement Activity | 2020 |
| Description | Meeting with C Civil about planning future engagement with Lloyds/ Delphi study (A Milne) |
| Form Of Engagement Activity | A formal working group, expert panel or dialogue |
| Part Of Official Scheme? | No |
| Geographic Reach | National |
| Primary Audience | Industry/Business |
| Results and Impact | Conversation with C Civil about planning future engagement with Lloyds and the Delphi study. Covid has had a significant impact on this project and the impact needs to be assessed. Alternative projects were suggested as possibilities. Confirmation that future partnership would continue. |
| Year(s) Of Engagement Activity | 2020 |
| Description | Meeting with FCA - Financial Conduct Authority |
| Form Of Engagement Activity | A formal working group, expert panel or dialogue |
| Part Of Official Scheme? | No |
| Geographic Reach | National |
| Primary Audience | Policymakers/politicians |
| Results and Impact | Initial meeting to discuss remit of research and gauge opinion |
| Year(s) Of Engagement Activity | 2019 |
| Description | Meeting with HMRC |
| Form Of Engagement Activity | A formal working group, expert panel or dialogue |
| Part Of Official Scheme? | No |
| Geographic Reach | National |
| Primary Audience | Industry/Business |
| Results and Impact | Meeting with HMRC 24th of July |
| Year(s) Of Engagement Activity | 2020 |
| Description | Meeting with Head of Digital Artificial intelligence, AXA ML |
| Form Of Engagement Activity | Participation in an activity, workshop or similar |
| Part Of Official Scheme? | No |
| Geographic Reach | National |
| Primary Audience | Industry/Business |
| Results and Impact | Meeting with influential industry contact to gain further insight into industry view. |
| Year(s) Of Engagement Activity | 2019 |
| Description | Meeting with Head of Research Lloyd's Market, and Craig Civil Lloyd's Market Data Lab, on digital transformation at Lloyd's market (A Milne, C Holland) |
| Form Of Engagement Activity | Participation in an activity, workshop or similar |
| Part Of Official Scheme? | No |
| Geographic Reach | National |
| Primary Audience | Industry/Business |
| Results and Impact | Meeting with Waseem Ali, Head of Research, Lloyd's Market, and Craig Civil Lloyd's Market Data Lab, on digital transformation at Lloyd's market 26th October to discuss future research collaboration. |
| Year(s) Of Engagement Activity | 2020 |
| Description | Meeting with IBM VP discussing InsurTech Knowledge Space analytics and further funding support (T Rubin) |
| Form Of Engagement Activity | A formal working group, expert panel or dialogue |
| Part Of Official Scheme? | No |
| Geographic Reach | National |
| Primary Audience | Professional Practitioners |
| Results and Impact | Meeting with IBM VP discussing InsurTech Knowledge Space analytics and further funding support. T Rubin |
| Year(s) Of Engagement Activity | 2020 |
| Description | Meetings with Bank of England regarding their data strategy and attendances on associated Transparency Task Force. A. Milne. |
| Form Of Engagement Activity | A formal working group, expert panel or dialogue |
| Part Of Official Scheme? | No |
| Geographic Reach | National |
| Primary Audience | Professional Practitioners |
| Results and Impact | Several meetings with Bank of England on their data strategy, organised by Margin Udey and of Bank of England, with Andy Beale FCA, Angus Moir Bank of England, and other Bank of England colleagues. Attendance at meetings of the related Transparency Task Force working group on standardisation of financial data, including Angus Moir of Bank of England and Andy Beale of the FCA 9th September. |
| Year(s) Of Engagement Activity | 2020 |
| Description | Meetings with Willis Towers Watson - Data Sharing project (C Holland, J Hillier, P Timms) |
| Form Of Engagement Activity | Participation in an activity, workshop or similar |
| Part Of Official Scheme? | No |
| Geographic Reach | National |
| Primary Audience | Industry/Business |
| Results and Impact | Meetings with Willis Towers Watson to design data sharing survey. Further meetings to discuss results of survey and interpretations. |
| Year(s) Of Engagement Activity | 2020 |
| Description | Midlands Engine Digital conference. Workshop led by C Holland |
| Form Of Engagement Activity | A formal working group, expert panel or dialogue |
| Part Of Official Scheme? | No |
| Geographic Reach | National |
| Primary Audience | Industry/Business |
| Results and Impact | This workshop, led by Chris Holland (Loughborough University) explores the latest developments in practical applications for AI, with insights from insurance and airline projects. Midlands Engine Digital conference https://www.midlandsengine.org/midlands-engine-digital-conference/ https://www.midlandsengine.org/wp-content/uploads/2022/01/220117-Midlands-Engine-Digital-Conference-Agenda-1.pdf |
| Year(s) Of Engagement Activity | 2022 |
| Description | New World Series- 3 sessions- London Market Forum |
| Form Of Engagement Activity | A talk or presentation |
| Part Of Official Scheme? | No |
| Geographic Reach | National |
| Primary Audience | Industry/Business |
| Results and Impact | New World Series (June 2020). 3 sessions (1.5. hours each). Presentation given at each session. Organized and attended by members of London Market Forums There were 18, 34 and 46 participants from industry at each session respectively. |
| Year(s) Of Engagement Activity | 2020 |
| Description | Online Presentation of commissioned report: The Metaverse & Insurance Pixel Perfect? |
| Form Of Engagement Activity | A talk or presentation |
| Part Of Official Scheme? | No |
| Geographic Reach | National |
| Primary Audience | Industry/Business |
| Results and Impact | Online presentation y Z/Yen to introduce report and discuss findings. https://fsclub.zyen.com/events/all-events/metaverse-insurance/ |
| Year(s) Of Engagement Activity | 2022 |
| URL | https://fsclub.zyen.com/events/all-events/metaverse-insurance/ |
| Description | Participation in Suptech roundtable organised by JWG Consulting, broadcast on Nov 12th. (A.Milne) |
| Form Of Engagement Activity | A broadcast e.g. TV/radio/film/podcast (other than news/press) |
| Part Of Official Scheme? | No |
| Geographic Reach | International |
| Primary Audience | Industry/Business |
| Results and Impact | A virtual panel of regulatory risk experts, sharing their perspectives on how new data standards and technologies will be applied to produce better reporting outcomes in Europe and the UK. Dissemination of research findings from TECHNGI project. |
| Year(s) Of Engagement Activity | 2020 |
| URL | https://jwg-it.eu/events/suptech-virtual-round-table-the-future-of-fs-risk-data-collection-with-digi... |
| Description | Partnership development with ISSIP (R Maull 09/12/2021) |
| Form Of Engagement Activity | A talk or presentation |
| Part Of Official Scheme? | No |
| Geographic Reach | National |
| Primary Audience | Industry/Business |
| Results and Impact | Partnership development with ISSIP (R Maull 09/12/2021) |
| Year(s) Of Engagement Activity | 2021 |
| Description | Partnership development with Intelligent AI (RM 27/01/2022) |
| Form Of Engagement Activity | A talk or presentation |
| Part Of Official Scheme? | No |
| Geographic Reach | National |
| Primary Audience | Professional Practitioners |
| Results and Impact | Partnership development with Intelligent AI (RM 27/01/2022) |
| Year(s) Of Engagement Activity | 2022 |
| Description | Presentation & workshop; Insurtech UK roundtable(adoption and culture change) 24/04/2021 |
| Form Of Engagement Activity | A formal working group, expert panel or dialogue |
| Part Of Official Scheme? | No |
| Geographic Reach | National |
| Primary Audience | Industry/Business |
| Results and Impact | Presentation & workshop; Insurtech UK roundtable(adoption and culture change) |
| Year(s) Of Engagement Activity | 2021 |
| Description | Presentation at ASEC Conference 2020 by M King and P Timms |
| Form Of Engagement Activity | Participation in an activity, workshop or similar |
| Part Of Official Scheme? | No |
| Geographic Reach | National |
| Primary Audience | Industry/Business |
| Results and Impact | Presentation of paper Advocating systems approaches outside of engineering: reporting on research with the UK insurance sector towards the adoption of trustworthy AI-enabled systems. Dissemination of research findings to industry and business. |
| Year(s) Of Engagement Activity | 2020 |
| URL | https://asec2020.org.uk/Pages/Standard/General_Information/About |
| Description | Prof C Holland and Prof Kraft attend Industry events 12-13 October 2022 |
| Form Of Engagement Activity | Participation in an activity, workshop or similar |
| Part Of Official Scheme? | No |
| Geographic Reach | International |
| Primary Audience | Professional Practitioners |
| Results and Impact | Numerous events were attended together. In particular, the Coburg Digital Days of Zukunft.Coburg. Digital (ZCD) and the "InsureMe - Insurance Meeting Nordbayern" (12.10.2022) should be mentioned here. Prof. Holland also gave a guest lecture on "AI systems and big data" (13.10.2022). |
| Year(s) Of Engagement Activity | 2022 |
| Description | Project planning meetings IBM, on the AI and data MarketSpace concept. (C Holland) |
| Form Of Engagement Activity | A formal working group, expert panel or dialogue |
| Part Of Official Scheme? | No |
| Geographic Reach | National |
| Primary Audience | Industry/Business |
| Results and Impact | Project planning with IBM, on the AI and data MarketSpace concept, which will include |
| Year(s) Of Engagement Activity | 2020 |
| Description | Responsible AI Mini Forum: From Principles to Practice: Sharing learnings across the professional services sectors workshop (C. Holland) |
| Form Of Engagement Activity | Participation in an activity, workshop or similar |
| Part Of Official Scheme? | No |
| Geographic Reach | National |
| Primary Audience | Professional Practitioners |
| Results and Impact | Responsible AI Mini Forum: From Principles to Practice: Sharing learnings across the professional services sectors workshop |
| Year(s) Of Engagement Activity | 2020 |
| Description | T Rubin - meeting with Lloyds Data Lab to discuss incubators case (06/02/2020) |
| Form Of Engagement Activity | A talk or presentation |
| Part Of Official Scheme? | No |
| Geographic Reach | National |
| Primary Audience | Industry/Business |
| Results and Impact | T Rubin - useful meeting to plan Insurance specific start ups and incubators with view to Phase B in-depth case study. |
| Year(s) Of Engagement Activity | 2020 |
| Description | T Rubin invited as Speaker at AI in Finance forum - InsureTech |
| Form Of Engagement Activity | A formal working group, expert panel or dialogue |
| Part Of Official Scheme? | No |
| Geographic Reach | International |
| Primary Audience | Professional Practitioners |
| Results and Impact | T Rubin invited to speak at AI in Finance forum InsureTech conference for industry |
| Year(s) Of Engagement Activity | 2021 |
| URL | https://fintech.global/AIFinTechForum/speaker/dr-tzameret-h-rubin/ |
| Description | T Rubin meeting with Israeli Innovation Authority and Israeli Ministry of Justice to improve understanding with respect to the role of AI in the insuTech industry (29 March 2021) |
| Form Of Engagement Activity | A formal working group, expert panel or dialogue |
| Part Of Official Scheme? | No |
| Geographic Reach | International |
| Primary Audience | Policymakers/politicians |
| Results and Impact | The Israeli Innovation Authority published an RFI (Hebrew) 29 March 2021 - Response to an RFI to advice policy makers in the Israeli Innovation Authority about regulation with respect to AI (across application sectors) Improve the Israeli Innovation Authority and The Israeli Ministry of Justice understanding with respect to the role of AI in the insuTech industry |
| Year(s) Of Engagement Activity | 2021 |
| URL | https://innovationisrael.org.il/kol-kore/5419 |
| Description | TECHNGI Social Media accounts |
| Form Of Engagement Activity | Engagement focused website, blog or social media channel |
| Part Of Official Scheme? | No |
| Geographic Reach | International |
| Primary Audience | Media (as a channel to the public) |
| Results and Impact | TECHNGI social media accounts have been used to draw attention to our research, disseminate knowledge and prompt interest. Updates and posts have been made in response to TECHNGI research findings and publications. Followers have increased. Discussion and contacts have been made via these channels. The past three years has led to the following website metrics: Website users total 3174, Sessions; 4288 Page Views; 9304 Social media accounts (Twitter and Linkedin) approx 100 followers, with 174 views of one post. |
| Year(s) Of Engagement Activity | 2020,2021,2022 |
| URL | https://twitter.com/techngi?ref_src=twsrc%5Etfw%7Ctwcamp%5Eembeddedtimeline%7Ctwterm%5Eprofile%3Atec... |
| Description | TECHNGI Virtual Conference Sessions |
| Form Of Engagement Activity | Participation in an activity, workshop or similar |
| Part Of Official Scheme? | No |
| Geographic Reach | International |
| Primary Audience | Industry/Business |
| Results and Impact | Our project has been examining insurance industry experience with employing AI, building a core base of knowledge on the broader challenges of adoption, including the implication for business models and the organisational and public policy challenges. This online conference was delivered across four separate themed sessions. AI and Digital Ethics in Insurance, AI and Start ups, AI and Business Models in insurance and Data, AI and Regulation We presented the insights of the project, bringing together a range of perspectives on the business application of Artificial Intelligence (AI) and its role in the ongoing digital transformation of the insurance industry. The conference sessions featured a mix of leading university researchers and industry practitioners participating as both presenters and panellists. |
| Year(s) Of Engagement Activity | 2021 |
| URL | https://www.techngi.uk/category/events/ |
| Description | TECHNGI website |
| Form Of Engagement Activity | Engagement focused website, blog or social media channel |
| Part Of Official Scheme? | No |
| Geographic Reach | International |
| Primary Audience | Media (as a channel to the public) |
| Results and Impact | The TECHNG website has been frequently updated during 2020 with publications and news of our research. Publications have included; several industry focused reports, blogs, response to UK National Data Strategy, response to EU Commission Consultation on AI and TECHNGI Conference Summary. The intended purpose is the dissemination of knowledge between academia to industry. The impact has been an increase in website users to 1260 with a total 4,643 page views. Data shows a significant rise in views when an article is published on the website. The website has also prompted further discussion with industry practitioners. |
| Year(s) Of Engagement Activity | 2020,2021 |
| URL | https://www.techngi.uk/ |
| Description | TECHNGI website activity |
| Form Of Engagement Activity | Engagement focused website, blog or social media channel |
| Part Of Official Scheme? | No |
| Geographic Reach | International |
| Primary Audience | Professional Practitioners |
| Results and Impact | Website views have continued to increase during 2022. Users 2022. New users 2003. Returning users 19. 5081 page views. Additional webpage created to provide information of newly formed mini-CDT. Events also provided information of ICC Digital Transformation workshop. |
| Year(s) Of Engagement Activity | 2022 |
| URL | https://www.techngi.uk/category/events/ |
| Description | Techngi Industry Partner - ABI |
| Form Of Engagement Activity | A formal working group, expert panel or dialogue |
| Part Of Official Scheme? | No |
| Geographic Reach | National |
| Primary Audience | Industry/Business |
| Results and Impact | ABI join TECHNGI quarterly Partner meetings |
| Year(s) Of Engagement Activity | 2019,2020 |
| Description | Techngi Quarterly Partner meeting |
| Form Of Engagement Activity | A formal working group, expert panel or dialogue |
| Part Of Official Scheme? | No |
| Geographic Reach | National |
| Primary Audience | Industry/Business |
| Results and Impact | Quarterly partner meeting. Industry Partners include Lloyds Data Lab, Z/Yen Group, ABI, BGL Group Limited, Pricewaterhouse Coopers LLP, SCOR Global, Willis Towers Watson Limited, IBM Global Markets. Discussion of research focus, issues and report of work completed within each Phase. |
| Year(s) Of Engagement Activity | 2019,2020 |
| Description | Techngi social media accounts |
| Form Of Engagement Activity | Engagement focused website, blog or social media channel |
| Part Of Official Scheme? | No |
| Geographic Reach | International |
| Primary Audience | Industry/Business |
| Results and Impact | TECHNGI social media accounts set up. These run alongside the TECHNGI website and provide updates on TECHNGI events, publications and blogs. |
| Year(s) Of Engagement Activity | 2019 |
| URL | https://twitter.com/techngi?ref_src=twsrc%5Etfw%7Ctwcamp%5Eembeddedtimeline%7Ctwterm%5Eprofile%3Atec... |
| Description | Techngi website |
| Form Of Engagement Activity | Engagement focused website, blog or social media channel |
| Part Of Official Scheme? | No |
| Geographic Reach | International |
| Primary Audience | Industry/Business |
| Results and Impact | TECHNGI website created to inform industry of events, publications and updates regarding research. |
| Year(s) Of Engagement Activity | 2019 |
| URL | http://www.techngi.co.uk |
| Description | UKRI Evaluation survey sent to all Partners in May 2022 |
| Form Of Engagement Activity | A formal working group, expert panel or dialogue |
| Part Of Official Scheme? | No |
| Geographic Reach | National |
| Primary Audience | Professional Practitioners |
| Results and Impact | UKRI Evaluation survey sent to all Partners to provide post project feedback to UKRI |
| Year(s) Of Engagement Activity | 2022 |
| Description | Willis Towers Watson Artificial Intelligence for Environmental Risks Strategy Conference (2nd March 2023, Willis Towers Watson, London) |
| Form Of Engagement Activity | Participation in an activity, workshop or similar |
| Part Of Official Scheme? | No |
| Geographic Reach | International |
| Primary Audience | Industry/Business |
| Results and Impact | Academics and PhD students from TECHNGI-CDT attended Artificial Intelligence for Environmental Risks event which showcased work from University of Cambridge, UCL and Loughborough University looking to integrate cutting edge computation programming into understanding of natural catastrophe risks. Collaborative event between industry and academia. |
| Year(s) Of Engagement Activity | 2023 |
| URL | https://events.wtwco.com/event/de4293a8-b615-40a9-a571-5fb687912b10/summary?RefId=Summary |
| Description | Willis Towers Watson Research Network - Annual Report 2019 |
| Form Of Engagement Activity | A magazine, newsletter or online publication |
| Part Of Official Scheme? | No |
| Geographic Reach | International |
| Primary Audience | Industry/Business |
| Results and Impact | file:///C:/Users/cvjw17.LUNET/AppData/Local/Microsoft/Windows/INetCache/Content.Outlook/ONNUJ2GX/WRN-brochure-october-2019%20(002).pdf |
| Year(s) Of Engagement Activity | 2019 |
| Description | Willis Towers Watson. Meetings and discussions related to setting up mini-CDT |
| Form Of Engagement Activity | Participation in an activity, workshop or similar |
| Part Of Official Scheme? | No |
| Geographic Reach | International |
| Primary Audience | Industry/Business |
| Results and Impact | Discussions regarding creation of mini-CDT to be jointly funded by Loughborough University and Willis Towers Watson. Enabling further collaboration and support for 6 PhD to extend into TECHNGI research area. |
| Year(s) Of Engagement Activity | 2022 |
| Description | Workshop - DigiCat |
| Form Of Engagement Activity | Participation in an activity, workshop or similar |
| Part Of Official Scheme? | No |
| Geographic Reach | Regional |
| Primary Audience | Industry/Business |
| Results and Impact | Workshop with DigiCat- Oct 8th |
| Year(s) Of Engagement Activity | 2020 |
| Description | Workshop Evolving Geographies of Fintech 25-26 November 2020 Presentation of paper "Digital Transformation in the Advanced Services: An Industry Space Analysis" the latest TECHNGI findings about AI as a general purpose technology (M Van Meeteren) |
| Form Of Engagement Activity | A talk or presentation |
| Part Of Official Scheme? | No |
| Geographic Reach | International |
| Primary Audience | Industry/Business |
| Results and Impact | Workshop Evolving Geographies of Fintech 25-26 November 2020 Presentation of paper "Digital Transformation in the Advanced Services: An Industry Space Analysis" the latest TECHNGI findings about AI as a general purpose technology |
| Year(s) Of Engagement Activity | 2020 |
| URL | http://www.fingeo.net/cfp-evolving-geographies-of-fintech-fingeo-online-workshop-25-26-november-2020... |
| Description | Workshop on Digital Transformation of International Trade - Stratford, London, September 13th 2022 - TECHNG |
| Form Of Engagement Activity | Participation in an activity, workshop or similar |
| Part Of Official Scheme? | No |
| Geographic Reach | International |
| Primary Audience | Professional Practitioners |
| Results and Impact | Digital transformation is projected to offer cost reductions in global international trade of 80% and increased trade volumes of 43%. This amounts to some $9trn or around 10% of global GDP, with particularly large benefits for smaller companies and jurisdictions. As illustrated by the ongoing issues of trade with Northern Ireland, the implications of not having a digital trade system in place are problematic and costly. This massive opportunity is being actively pursued, by both policy makers and business - with the UK leading G7 efforts to introduce model law for electronically transferable records (MLETR) and the International Chamber of Commerce ICC Digital Standards Initiative developing the required global standards to automate international trade. This workshop brings together researchers, policy makers and practitioners from around the world. Its focus is on the key adoption challenges - technological, legal, financial, operational and political - in the digital transformation of international trade. The workshop goals are thus identifying the business, strategic and political barriers to successful adoption and developing a research agenda for support of this digital transformation. • What are the key research questions that need to be answered for the private and public sectors to fully engage in the digitalisation of international trade? • How can digitalisation also support the goals of sustainability and protection of our environment? • Are there negative or unintended consequences that must be addressed? The workshop panel sessions will feature a mix of leading university researchers and industry practitioners participating as both presenters and panellists. We look forward to welcoming you to a stimulating day of open debate and insightful discussion. Further information and the workshop Agenda is available here Workshop on Digital Transformation of International Trade - Stratford, London, September 13th 2022 - TECHNGI Summary report completed and available on website. |
| Year(s) Of Engagement Activity | 2022 |
| URL | https://www.techngi.uk/2022/08/18/workshop-on-digital-transformation-of-international-trade-stratfor... |
| Description | Workshop presentation, co hosted by Operational Research Society (C Holland) |
| Form Of Engagement Activity | A talk or presentation |
| Part Of Official Scheme? | No |
| Geographic Reach | National |
| Primary Audience | Industry/Business |
| Results and Impact | 'How can AI help us make decisions; 'A? and business models in insurance: A typology and business examples presented to industry by C Holland |
| Year(s) Of Engagement Activity | 2020 |
| Description | Workshop with Lloyds forum |
| Form Of Engagement Activity | Participation in an activity, workshop or similar |
| Part Of Official Scheme? | No |
| Geographic Reach | National |
| Primary Audience | Industry/Business |
| Results and Impact | Workshop with Lloyds forum - 5th November |
| Year(s) Of Engagement Activity | 2020 |