Bermudian reinsurance unit AXIS Re, part of the AXIS Capital Holdings Limited re/insurance company, is looking to engage and develop the next generation of insurance and reinsurance professionals, holding a student hackathon.
The inaugural “Future of Insurance” student hackathon will be held in the Siebel Center for Design on the campus of the University of Illinois at Urbana-Champaign, on April 9th.
AXIS Re is hosting the event and participating students will be encouraged to create new catastrophe risk visualisation models using the data analytics, computer programming and risk modeling technologies that are reshaping the re/insurance industry.
We are proud to partner with the University of Illinois — a leader in research and education and a valued partner of the AXIS Research Center — to launch our inaugural student hackathon,” commented Jon Colello, President and Chief Underwriting Officer, U.S., at AXIS Re. “The ‘Future of Insurance’ is not just the name of the hackathon — it reflects our company’s commitment to help engage and develop the next generation of insurance and reinsurance professionals.”
With reinsurance often said to face problems encouraging millenials to its ranks, engaging with future professionals is key to helping them understand what the industry has to offer.
Colello added; “We anticipate that the next generation of insurance professionals will come from both traditional and non-traditional educational backgrounds, including computer science and information technologies. Through this hackathon and future events, we hope to draw more young professionals into the field while illustrating the dynamic and exciting opportunities within today’s rapidly evolving insurance industry.”
Students attending the hackathon tudents will build data visualization tools that could be used for underwriters to assess catastrophe risk impacts, for perils such as floods, hurricanes, earthquakes, tornadoes and other natural and also man-made disasters.
With the insurance technology of insurtech wave accelerating it is a perfect time to demonstrate to future potential recruits the technical and scientific nature of risk analysis and underwriting, particularly where climate and disaster risks are concerned, as these link to global issues which millenials are already highly engaged with.