Upfort CEO Xing Xin was interviewed at ITC Vegas to discuss the potential and power of AI in cyber insurance

AM Best TV caught up with Upfort CEO Xing Xin on the floor of the recent ITC Vegas conference to discuss all things cybersecurity and cyber insurance. The interview touched on the promise of AI to transform data gathering, processing, and analysis. 

“There is more data available than a human can practically process,” Xing commented on the potential of AI technologies to transform insurance underwriting. “When you think about getting to that second layer of analysis on data that you had available, but you weren’t able to look at before—that creates some really unique opportunities to refine the accuracy of your risk assessment.” 

While there may be some cautiousness in the industry around what these new tools can mean for human underwriters, Xing sees them as a means to automate high-volume (but not necessarily high-value) tasks, so human underwriters can spend time doing work that actually generates value.

“At the end of the day, AI is not there to replace underwriters,” Xing explained. “I think of it like this: What are all the things that underwriters spend their time on that can be automated, so they can spend their time on the decision.”

You can watch the entire interview on AM Best TV's website.

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