AIG chief Duperreault sees insurtech lowering premiums
Greater use of insurtech could help lower premiums for customers, according to the new CEO of American International Group (AIG), Brian Duperreault. He said using data and analytical tools is making insurers better at their jobs, but that buyers of insurance would always need some advice in making their decisions. He also said that underwriters will need to adapt to the challenges posed by insurtech in terms of becoming better at using and understanding data. Duperreault was appointed in May.

NEW YORK -- Big data and artificial intelligence should help insurers assess risk more efficiently, and that should help reduce costs and drive down premiums for clients, the new CEO of American International Group told The Nikkei recently.

Underwriters will need to adapt to the rise of insurance technology, or insurtech, said Brian Duperreault, who was appointed chief executive of the U.S. insurer in May. Edited excerpts from the interview follow.