COVEA INSURANCE
“ There ' s a built-up swell of change within the insurance market , not just about technology , not just about pricing , but just around making products much more sticky for people and giving the service that they really want and need ”
GRAEME HOWARD CHIEF INFORMATION TECHNOLOGY OFFICER , COVEA INSURANCE
to really drive the foundations and the regulations around open insurance . So our platform is going to be fully compliant with the Open Insurance Initiative [ OII ].”
The OII is the industry ’ s largest open source project and while Howard lauds his team ’ s work he also says there is still more to do , particularly with regard to machine learning and AI modelling and so the company has invested in created their own platform .
In an era where digital fraud has skyrocketed with lockdowns , Howard praises his team for their work in an industry that historically sees high levels of fraud : “ The team are doing amazing things in not just fraud analytics , but leading the way with , with ‘ ghost broking ’, which is a particular bane of the insurance industry and quite hard to pick out , but the models we ' ve created now are starting to really push us into a much stronger position in that area .”
74 March 2022