Business Insurance named Partner Michael Parme to its 2017 Break Out Awards, recognizing him as a leader in the risk management and property/casualty insurance industry. In the feature article, Parme discussed what inspired him, as well as what’s to come in the insurance field.
Parme also notes that his biggest concern is the significant challenge for insurers to attract young talent. “There needs to be an industry push to attract young, talented people to infuse new ideas and innovation in the business. Over the past two decades that has not been a huge priority for insurers, and they are playing catch-up,” Parme said.
Parme also discussed the capacity for artificial intelligence to play a huge role in claims management. “Artificial intelligence has the potential to aggregate tremendous amounts of data and, based on those large data sets, predict outcomes,” Parme added.