The impact of data, AI and automation on risk management

Johnny McCord, of Loadsure, considers the way in which the use of data is changing risk management

Risk management has evolved more rapidly in the last few decades than anyone could have predicted. It iss not groundbreaking to say that emerging technologies have transformed the way assureds and insurance brokers manage risk. Yet, the progress we have seen is unprecedented and AI-powered solutions now dominate the market, with 91 per cent of respondents to a 2024 survey reporting that they are either already investing in, or considering, AI.