Lloyd's has announced that Axis Capital's CEO - Albert Benchimol - will join the Lloyd's Council from February 2019.
Back in December 2017 Benchimol referred to the potential for bionic underwriters that would transform the industry by "combing experienced judgement and human ingenuity, but supported and enhanced by the speed and strength of technology".
Appointments such as this are important for maintaining momentum; while there is an ever-increasing amount of noise around the importance of technology and digital transformation in EC3 one must never underestimate the importance of having leadership at the very top that is comfortable laying out the opportunities and clearly stating the case for change.
Benchimol's appointment adds to a leadership team that is really emphasising the need to embrace the opportunities that digital brings (q.v., recent mandating of e-placement for brokers).
“Bionic underwriters” could soon be transforming the insurance industry, combining experienced judgment and human ingenuity, but supported and enhanced by the speed and strength of technology. That was a vision expressed by Albert Benchimol, chief executive officer of Axis Capital, as he spoke about the opportunities and challenges faced by the industry.