Aspen explained that its Data Labs will enable employees and partners to collaborate on data science and AI projects to improve efficiency and accelerate results in underwriting and claims processes.
The new platform was also described as a central part of Aspen’s broader data and technology strategy. The platform will eventually provide access to AI platforms, frameworks, and tools designed to enhance core business functions, client experiences, and overall performance. It will also create partnership opportunities with leading third parties for ongoing innovation.
To mark the launch, Aspen Data Labs will also host its first AI Data Summit in London from July 16 to July 18. In collaboration with innovation specialist LMarks, the event will provide a forum for employees and external suppliers to present ideas aimed at improving underwriting and claims processes through data and technology.
Christian Dunleavy (pictured above, left), group chief underwriting officer, emphasised the importance of AI in Aspen's strategy.
“Aspen Data Labs will be instrumental in enhancing our decision support systems to bring solutions that improve our operations and customer outcomes. By bolstering our partner ecosystem with our internal capabilities, we are enhancing our capacity to innovate and deliver greater value, ensuring Aspen remains the partner of choice now and in the future,” he said.
Rob Houghton (pictured above, right), chief operating officer at Aspen, also highlighted the launch of Aspen Data Labs and what it represents for the company.
“Aspen Data Labs is the hub for us to build and develop our own AI services, bring in-house tech capabilities, recruit AI skills and secure our future with responsible AI governance. It is also about strong collaboration, and our first AI Data Summit is a great opportunity to exchange ideas, work with different teams and learn from outside experts,” Houghton said.
Earlier this year, the global insurer also announced the launch of Aspen Cyber Risk Services (ACRS), a suite of services that will help Aspen insureds to proactively deal with cybersecurity threats.
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