Highlights from the 2024 GIRO Conference

We had an incredible time at the GIRO conference, which took place at the ICC in Birmingham from 18-20 November.

The event was packed with fantastic networking opportunities, and it was great reconnecting with familiar faces while meeting new ones.

I wanted to share my takeaways from this year's conference which focused on the latest developments in general insurance, including new ways of modelling and pricing, improving the use of data and the impact of climate change on the work we do.

My key takeaways:

• Data Strategy: The application of actuarial expertise in underwriting and broking was a central theme. Discussions highlighted the importance of using large volumes of data better, and also making the most of smaller data volumes where available. Data is a key strategic asset for actuaries, especially in the areas of pricing and and portfolio management.
• Innovation in Pricing and Reserving: There was a real focus on advanced pricing models and tools, emphasising their role in improving risk taking and decisions in insurance and reinsurance markets​.
• Emerging  Trends in AI and Data Science: AI and data science were spotlighted for their transformative potential in risk assessment, claims processing, and overall business modeling. The real challenge lies in balancing innovation with ethical and regulatory compliance​.

I also wanted to give a big shoutout to everyone who visited our stand, joined in the fun at our foosball table competition, and congrats to the lucky winners of our prize draw giveaway: 2 tickets to Wales vs. England in the Six Nations Rugby!

Special thanks to our amazing partners, Go.Compare, for providing such an incredible prize.

Huge appreciation to the incredible Optalitix team for making this event such an amazing success.

We can’t wait to see what’s in store for next year!

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