Jun 28, 2023
Doug McElhaney is a Partner at McKinsey & Company and will be the opening Keynote Speaker at In2Risk 2023. Doug is the global leader of McKinsey’s dedicated group of AI practitioners serving P&C and life insurance companies. In this role, Doug leads a global team of data scientists, AI experts, and data engineers that help leading insurance companies build next-generation analytics solutions and centers of excellence, helping insurers expand their use of external data in their AI models and solutions. He has also helped both life and P&C insurers develop innovative new pricing and underwriting capabilities using third-party data and machine learning. In today’s episode of the In The Know podcast, Chris Hampshire sits down with Doug for a discussion about the application of AI, the advancement of data analytics, and other timely topics in the insurance world.
Key Takeaways
Solving a variety of problems has been the aim of Doug’s career journey.
A lagging utilization of innovation in insurance has presented opportunities for growth.
As a consultant, Doug has found an excellent alternative way to apply his skill.
Doug’s definition of the potential and hype of artificial intelligence.
An overview of the positive and potential negative applications of AI.
Could AI help address the talent gap in the insurance industry?
Advice and sources for keeping up with technological innovations.
Tactics for preparing the future workforce with needed skills.
Appealing to people who might be considering a career in the insurance industry.
A five-year look at the future of the insurance industry.
Doug’s wise advice to his early career self.