(Students at the Future of Insurance hackathon at the University of Illinois, Urbana-Champaign. Credit: Axis Re.)
AXIS Re, a business segment of AXIS Capital Holdings Limited (Pembroke Parish, Bermuda) hosted its inaugural “Future of Insurance” student hackathon in the Siebel Center for Design on the campus of the University of Illinois at Urbana-Champaign, on April 9. the event featured students building new catastrophe risk conceptualization models by leveraging the data analysis, advanced computer programming skills and risk modeling technologies, according to an AXIS Re source.
“We are proud to partner with the University of Illinois—a leader in research and education and a valued partner of the AXIS Research Center—to launch our inaugural student hackathon,” said Jon Colello, President and Chief Underwriting Officer, U.S., AXIS Re. “The ‘Future of Insurance’ is not just the name of the hackathon — it reflects our company’s commitment to help engage and develop the next generation of insurance and reinsurance professionals.”
Data Visualization Tools for Underwriters
The hackathon was a collaboration between the AXIS Research Center (which is located on the University of Illinois campus) and the University of Illinois Office of Risk Management and Insurance Research. As part of the hackathon experience, students were challenged to build a data visualization tool for underwriters to assess the potential impact of catastrophic incidents.