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AI makes headway in captive management - Business Insurance Skip to content Register for free Search Search Log In Risk Management Cyber Risks Pricing Trends Mergers & Acquisitions Technology Sponsored Content WSIA RISKWORLD Workers Comp & Safety Workers Comp Cost Control Pain Management Workplace Safety International EMEA Asia-Pacific Latin America People Events BI Intelligence Top 100 Agents & Brokers Best Places to Work 2025 Lists Directories Insurance Pricing BI Stock Index Magazine Current Issue Past Issues Subscribe Women to Watch ALL INsurance Resources Risk Perspectives Sponsored Content Webinars White Papers Risk Management Cyber Risks Pricing Trends Mergers & Acquisitions Technology Sponsored Content WSIA RISKWORLD Workers Comp & Safety Workers Comp Cost Control Pain Management Workplace Safety International EMEA Asia-Pacific Latin America People Events BI Intelligence Top 100 Agents & Brokers Best Places to Work 2025 Lists Directories Insurance Pricing BI Stock Index Magazine Current Issue Past Issues Subscribe Women to Watch ALL INsurance Resources Risk Perspectives Sponsored Content Webinars White Papers Risk Management Cyber Risks Pricing Trends Mergers & Acquisitions Technology Sponsored Content WSIA RISKWORLD Workers Comp & Safety Workers Comp Cost Control Pain Management Workplace Safety International EMEA Asia-Pacific Latin America People Events BI Intelligence Top 100 Agents & Brokers Best Places to Work 2025 Lists Directories Insurance Pricing BI Stock Index Magazine Current Issue Past Issues Subscribe Women to Watch ALL INsurance Resources Risk Perspectives Sponsored Content Webinars White Papers Risk Management Cyber Risks Pricing Trends Mergers & Acquisitions Technology Sponsored Content WSIA RISKWORLD Workers Comp & Safety Workers Comp Cost Control Pain Management Workplace Safety International EMEA Asia-Pacific Latin America People Events BI Intelligence Top 100 Agents & Brokers Best Places to Work 2025 Lists Directories Insurance Pricing BI Stock Index Magazine Current Issue Past Issues Subscribe Women to Watch ALL INsurance Resources Risk Perspectives Sponsored Content Webinars White Papers AI makes headway in captive management by Claire Wilkinson Alternative Risk Transfer/Captives , Technology Mar 17, 2026 PALM DESERT, California – Artificial intelligence could increasingly help captive insurers evaluate emerging risks such as autonomous vehicles while streamlining underwriting and operational workflows, a panel of experts said. But human oversight remains essential to ensure accurate results, they said last week during a session at the Captive Insurance Companies Association 2026 conference. AI applications are rapidly expanding and could help the industry better assess risks tied to emerging technologies such as autonomous mobility, said Steve Bauman, New York-based director of global programs and captives for the Americas at Axa XL. “You’ve got underwriters, people in general, just scared to death of it, and then you’ve got the creators of it that say ‘this is safer.’ That big area is just capital utilization, and so it’s going to be big for captives,” he said. Axa XL uses AI to support multinational insurance programs on its digital platform and process large volumes of underwriting submissions, helping identify the most promising opportunities, Mr. Bauman said. “It helps our underwriters sort out what might be better prospects for us as an underwriting company … they might be hit with hundreds of submissions a month,” he said. The technology can also screen submissions against underwriting criteria, flagging risks that fall outside the insurer’s appetite, such as programs with significant habitational property exposures. AI is also accelerating tasks such as translating policy documents and analyzing operational data across multiple countries, he said. “For us, servicing is paramount to our clients, right? So the enhancements with AI to support the account team are so important,” Mr. Bauman said. Captives are well-positioned to adopt AI because of their agility and access to detailed data, said Julie Bordo, Evanston, Illinois-based CEO and president of PCH Mutual Insurance Co., a risk retention group. AI has helped PCH Mutual, which has five employees, automate routine tasks and improve operational efficiency, she said. The group uses the technology to review contracts, generate marketing graphics and summarize meeting transcripts, Ms. Bordo said. AI also helps with research tasks, including developing a state regulatory grid for members in the non-medical residential care sector. “We were able to do that with one team member being able to use AI to develop that tool. That’s a great member benefit,” she said. AI can function like an employee who is gradually given more responsibility. “You start them off on small tasks. They do well with those; you give them bigger tasks,” she said. AI is already beginning to transform actuarial work by helping analyze large volumes of claims data and perform routine analytical tasks more quickly, said Esther Becker, Boulder, Colorado-based owner of Becker Garland Actuarial. She said she has been involved in developing an agentic AI tool for the Casualty Actuarial Society that will benefit U.S. property/casualty actuaries. The tool is designed to help actuaries select loss development factors, a key step in reserving analysis, Ms. Becker said. “For every factor it selects, it gives me its logic … It’s so good for governance, for documentation of process,” she said. Human expertise, though, remains critical because professionals still need to validate results and interpret the outputs produced by AI models, panelists said. AI should be viewed as a tool that works alongside employees, rather than replaces them, Ms. Becker said. “Think about your interaction with AI as you’re the employer and the AI is the employee. You’re not just setting the AI free to go do whatever …. You start them off on small tasks. They do well with those; you give them bigger tasks,” she said. 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