Arcturus Knowledge Session: Innovation, Sustainability, and AI in the Insurance Sector
Last Thursday, Fort bij Vechten was the place to be for knowledge, inspiration, and forward thinking. During the Arcturus Knowledge Session, insurers and experts came together to discuss the latest trends and challenges in the sector, covering topics such as Solvency II, AI applications, and quantifying climate risks. It was an afternoon full of insights, practical applications, and valuable conversations. Discover the highlights of this knowledge session: “Innovation, Sustainability, and AI in the Insurance Sector.”
Kickoff: Solvency II and Sustainability
Chair Kees Klok opened with an update on the SII 2020 review. In addition to model-based changes, there is more room for proportionality, and sustainability is taking a prominent role in the framework. The clear message: be prepared in time for the changes coming into effect in 2027, as they may have both practical and financial impacts.
AI as a gamechanger
Next, Mathys Goosen guided us through the world of artificial intelligence. For example, how can you use Google Street View images and smart prompts to identify property characteristics? These additional variables prove invaluable for pricing, risk prevention, and advisory services. AI is no longer just a hype; it is a practical tool that helps insurers work smarter and assess risks more accurately.
Sustainability: from obligation to opportunity
Patrick Dannenburg emphasized that sustainability is not just a regulatory requirement, but primarily an opportunity. Although small and medium-sized insurers are no longer subject to CSRD obligations, reporting requirements under Solvency II still apply. His call to action: view sustainability as both a societal responsibility and a strategic advantage.
Quantifying climate risks
Finally, Melchior Mattens demonstrated how Arcturus models help quantify climate risks. These insights are crucial for materiality analyses and pricing decisions, highlighting that data and modeling are key to future-proof insurance.
An afternoon full of valuable insights
We look back on an inspiring session where innovation, sustainability, and technology came together. Thanks to all participants for the open discussions and idea sharing. Together, we are building a resilient and sustainable insurance sector.