Annual Meetings-3B. How AI is Evolving Inland Marine Risk

3B. How AI is Evolving Inland Marine Risk - Cam Serigne

Pdf Summary

The document explains how AI is changing inland marine underwriting by closing the gap between traditional underwriting inputs and the operational data already generated inside insured businesses.

It introduces a four-step framework: <strong>Source, Structure, Analyze, Act</strong>. First, underwriters must access operational data such as maintenance records, safety logs, incident reports, telematics, and training records. Next, AI helps <strong>structure</strong> this unstructured information by parsing documents, recognizing entities, and normalizing formats. Then AI <strong>analyzes</strong> the data to identify trends, anomalies, benchmarks, and correlations that reveal leading indicators of risk rather than just historical losses. Finally, underwriters <strong>act</strong> on these insights through better risk selection, pricing, broker questions, risk management, and portfolio intelligence.

A real-world example is <strong>powersports</strong> insurance, where ATV, UTV, jet ski, and snowmobile operations generate useful data across multiple systems. AI can unify fleet, incident, and telematics data into dashboards that show incident rates, fleet health, and operational activity in real time. This allows underwriters to spot seasonal spikes, recurring rollover claims, or safety practices that reduce severity before losses grow.

The framework is also applicable across many inland marine classes, including contractors equipment, motor truck cargo, warehouse and distribution, fine art, builders risk, and renewable energy equipment.

The key takeaway is that AI does not replace underwriters; it enhances them by making operational data usable at scale. The recommendation is to start small with one risk and one data source, then build from structuring toward deeper analysis and action.

Keywords

AI underwriting

inland marine

operational data

unstructured data

risk analysis

data structuring

powersports insurance

telematics

risk selection

portfolio intelligence