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Emerging technologies are transforming insurance relationships

September 19, 2018

Brandon Fick says robotic processing applications, predictive analytics and cognitive computing are providing greater visibility into risks businesses face

emerging technologies transforming insurance

Brandon Fick has been appointed Chief Underwriting Officer for Zurich North America. At the time of this article, he was Head of Casualty for North America Commercial Insurance.

Relationships between insurance providers and their customers are evolving as powerful risk data and analysis technologies are revolutionizing what we know and how we think about business risks. Zurich North America Commercial Insurance Head of Casualty Brandon Fick offered his thoughts about this trend in an article that appeared in Leaders magazine.

“The world is changing at a rapid pace, presenting us with risk challenges that in some cases were unheard of a decade or two ago,” Fick said. “The rearview mirror is simply not going to tell us everything we need to know.”

Fick noted that new technologies being deployed by insurance providers are giving risk managers degrees of detail about risk management performance that were not available previously. Those risk managers welcome richer insights at a time when their own departments may be operating with leaner resources than in the past.

“Many customers have come to rely more heavily on their insurance carriers and brokers to make sure they are getting the analysis and insights they need to effectively manage risk in a changing environment,” Fick said.

Zurich is there to help them succeed, Fick said.