Send’s CTO Chris Newton speaks to Insurance Times
“Innovation in technology never ceases to amaze me – I try my best to hang on to that evolving landscape and [put myself] in a position where I am doing positive things with technology.”
In his first interview since he was appointed as Send’s CTO in June this year, Chris Newton discussed the transformative “magic” of GenAI in insurance, and explained why the commercial insurance market is “ripe for disruption”.
The secret sauce for underwriters is ensuring they have the right data at the right time to make the right decisions on risk. Chris explained that putting this data into underwriters’ hands is the real power behind Send’s Underwriting Workbench, and he’s excited about the potential to bring GenAI deeper into the platform to help solve the challenges our underwriting customers face.
“There are real-world problems around trying to manage structured and unstructured data, [such as] all the submission data [for underwriters] being received on different channels. We have a massive opportunity there.”
For Chris, that opportunity lies in using AI to automate the submission and extraction of data from a diverse range of sources, which Send is already doing via its Smart Submission product. But Chris believes we could go further. Over the next six months, his objective is to focus on the technology platform that underpins our product, and how we better operationalise the data that Chief Underwriting Officers need to boost profitability and their loss ratios.
“If we do that well, the long-term impact on the insurer will see more business, but also loss ratios hopefully improve over time because of better risk selection.”
- Read Chris’ full exclusive interview in Insurance Times (subscription required)
- Find out more about Smart Submission here.