Chubb's Jeremy Miles on the battle between algorithms and service

Jeremy Miles SVP Personal Risk Services Chubb

A particular comment about a new US provider caught my eye: "A large American ‘quant’ hedge fund is betting its number-crunching algorithms can gauge risks and set prices for insurance better and faster than any human could." As I read this, our latest research into the attitudes of high-net-worth insureds was sitting on my desk. It quoted a broker from a specialist private clients firm who explained how her job was based on what she described as "an intimate understanding of her clients". “