Professor Meryem Duygun, a world-renowned academic in insurance at the University of Nottingham, will be chairing a panel tomorrow at the Global InsurTech Summit on the use of Artificial Intelligence in the insurance industry.
Professor Duygun, whose recent research explains the use of Artificial Intelligence (AI) and the various benefits it will bring to the insurance sector, is the Chair for the discussion on ‘Artificial Intelligence Powering Insurance’ which will discuss key topics on how AI can be used to improve underwriting, claims management and fraud detection. The panellists will also elaborate on the impact of AI on the future of insurance and how AI can be used to improve the efficiency of business processes.
According to the International Data Corporation, the investment in cognitive and AI systems will reach up to $77.6 billion in 2022. A significant proportion of these investments aim to develop enhanced conversational AI applications such as chatbots, deep learning and machine learning applications.
Professor Duygun said: “I am delighted to be given this opportunity and be part of a timely debate on technological advances that have the potential to reshape the industry and create benefits for everyone. These technologies could lead to savings of around $1.3 billion in the auto, property, life and health insurance sectors and help to significantly reduce the time it takes to settle claims which will improve customer satisfaction and retention.”
Professor Duygun holds an endowed chaired professor in Risk and Insurance, funded by the UK’s largest insurance company, Aviva. She is committed to building a strong network with academics, industry experts and policymakers. She was recently named one of the seventeen most influential women in FinTech worldwide, in recognition of her efforts in advancing awareness and knowledge in the InsurTech industry.
Her research on FinTech, InsurTech and RegTech has received attention and raised the profile of the leading role Nottingham University Business School is playing in the rapidly growing fields of research.
She has made significant contributions at national and international levels. She chaired and contributed to a prestigious panel at Hong Kong FinTech Week, as the only delegate from academia.
She will be appearing at future events, including the RE•WORK AI in Insurance Summit in London and the Global Manufacturing and Industrialisation Summit in Hanover. Professor Duygun will also contribute to the Mohammed Bin Rashid Initiative for Global Prosperity which aims to bring together prominent people from the private sector and international institutions such as the United Nations Industrial Development Organization (UNIDO).
The Global InsurTech Summit is being held in London and will bring together over 1000 senior executives from international insurance and InsurTech companies. The discussion on Artificial Intelligence will be on Tuesday 3 March at 11am.