IE School of Science and Technology and Vienna Insurance Group set up EI Insurance and Tech Lab
The IE School of Science and Technology at IE University and the Vienna Insurance Group have launched the EI Insurance and Tech Lab aiming to address challenges for the insurance industry.
The IE VIG Insurance and Tech Lab will explore the intersection of insurance, emerging technologies, and societal challenges including climate change. The Lab aims to accelerate the development and implementation of science and technology driven solutions in areas such as health, energy and finance.
The IE VIG Insurance and Tech Lab will operate from the IE School of Science and Technology in Madrid campus as well as virtually, collaborating with academic institutions, corporations and experts worldwide.
The Lab’s first research project will focus on “Climate Change Effects on Life and Health Insurance” and will be led by Vice Dean Professor Gómez-Ullate, in collaboration with a selection of experts and the lab’s co-chairs.
“This is an example of high value research necessary to reshape the insurance industry and technology opportunities in the face of global changes. We very much appreciate the insight of Vienna Insurance Group to understand and bring this topic forward into this global academic and industry collaboration," says Ikhlaq Sidhu, Co-chair of the IE VIG Insurance and Tech Lab.
"A changing environment – in general terms, not only ecologically, goes along with challenges for insurers; we believe that technology will help the industry to maintain, if not expand the level of insurability, a factor that is massively beneficial to the wealth and resilience of consumers, societies and companies. With the IE School of Science & Technology we‘ve found an excellent partner in anchoring technology in insurance", adds Hartwig Löger, CEO of VIG.
"Climate change is already transforming the landscape of risk, from natural hazards and environmental losses to healthcare and economic stability. For insurers, this means rethinking traditional models and embracing new knowledge. The current project focus unites climate science, data science, and actuarial expertise to understand these complex dynamics”, says David Gómez-Ullate, Vice-Dean of Research and Director of the IE Datalab.
"By bridging disciplines, we aim to equip the industry with tools to navigate uncertainty and help build a more resilient and sustainable future."
