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Richard Milner on technology, AI and the future of specialty insurance

Technology has moved from sitting in the background of insurance to becoming central to how the industry understands risk, makes decisions and serves clients.

In a new CEO Voices interview with Sollers Consulting, Chaucer Group CEO Richard Milner reflects on the changing role of technology in specialty insurance and how AI, data and cloud technology are creating new opportunities for the industry.

For Richard Milner, however, technology is an enabler rather than a replacement for the expertise and relationships that sit at the heart of specialty insurance.

“Our biggest strength will always be our people. Their judgement, relationships and ability to deal with complex risk will be augmented by technology, rather than replaced by it.”
Richard Milner
Group CEO

Looking ahead, Richard Milner discusses how AI will play a growing role in reshaping the market alongside wider forces including climate change, the energy transition and cyber risk. As the risk landscape becomes more complex, he believes insurers will increasingly be expected to offer clients and brokers more than capacity, combining specialist expertise with greater insight, speed and practical solutions.

The interview also explores Chaucer’s own transformation journey and the importance of investing in technology and data while protecting the underwriting expertise, culture and relationships that have helped make the business successful.

“The businesses that flourish will be the ones that successfully combine strong human expertise with better technology and a disciplined approach to innovation.”
Richard Milner
Group CEO

Click the link below to read the full interview and hear more from Richard Milner on the future of technology, AI and transformation in specialty insurance.