Page 11 - Turkinsurance Digital Magazine

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Aksigorta Wins First Place in the EMEA Region with ‘Smart Scoring with AI’

Aksigorta, developing its products and services with a next-
generation insurance approach, was awarded first place in the
Europe, Middle East, and Africa (EMEA) region at the IDC
CIO Summit event for its “Smart Scoring with AI” project.
Accepting the award on behalf of Aksigorta was their CIO, Kaan
Konak.

The brands and projects recognized at the IDC CIO Summit
2024 organized by the International Data Corporation (IDC)
have been announced. At the closing ceremony of the IDC Turkey
CIO Summit held on May 29-30 with the theme “The Future of
IT: Rethinking Digital Transformation in the Age of Artificial
Intelligence Everywhere,” Aksigorta’s “Smart Scoring with AI”
project was awarded first place in the operations category. At
the event honoring organizations advancing their business into insurance more accessible, streamlined, and digitally integrated,
the future with digital transformation and artificial intelligence, we will continue to contribute to both positive differentiation in
Aksigorta’s CIO Kaan Konak received the first-place award on the industry and enhancing customer experience.”
behalf of Aksigorta.
The impact of artificial intelligence on scoring
“We are shaping the digital transformation of the industry
with our projects” In the Smart Scoring with AI project that led Aksigorta to
the award, business knowledge and expertise were combined
Aksigorta CIO Kaan Konak expressed his satisfaction with being with artificial intelligence models to establish an end-to-end
honored with such an award across Europe, the Middle East, intelligent scoring system based on customer-specific location
and Africa (EMEA), saying the following on the matter: “At for catastrophic risks. The scoring structure created for all
Aksigorta, we take pride in reshaping the insurance industry catastrophic risks was strengthened with artificial intelligence.
through digitalization. We are very happy to have received an In this project, which reduced agent dependency, Aksigorta
award for Smart Scoring with AI in a global organization where further enhanced accurate risk calculation and the most ideal
89 companies submitted 294 significant projects. By making pricing approach through advanced local-level risk analyses.

AXA is Europe’s largest insurance company by premium volume

Based on the 2022 gross written premium SCOR, ranked 18th with a premium
volume, the global insurance giant AXA volume of $21.0 billion. However, the
ranked as Europe’s largest insurance last of the big four, Hannover Re, did not
company with a premium volume of make the list.
$106.1 billion. In the same year, AXA
recorded $42.3 billion in capital and In second place is Allianz with a premium
surplus. volume of $100.5 billion. Allianz also had
the highest capital and surplus amount on
Based on data from rating agency AM the list, at $54.9 billion.
Best, the guide to Europe’s largest in capital and surplus. In eighth place is
insurance companies shows that only The Italy-based insurance company Chubb, with a premium volume of $51.9
two of the big four European reinsurers, Generali ranked third with a premium billion and $50.5 billion in capital and
Munich Re and Swiss Re, made it into the volume of $85.1 billion and $17.2 billion surplus, specializing in property and
top 10. This highlights the scale of their in capital and surplus. Zurich Insurance casualty insurance.
insurance operations. Group, immediately following Munich Re,
ranked fourth with a premium volume of Just below Swiss Re and completing the
Munich Re ranked fourth with a premium $58.8 billion. Lloyd’s, the world’s oldest top 10 is CNP Assurances, with a premium
volume of $71.6 billion and $22.4 billion insurance and reinsurance market, ranked volume of $38.4 billion and $18.2 billion
in capital and surplus, while Swiss Re fifth with a premium volume of $56.3 in capital and surplus.
ranked ninth with a premium volume of billion.
$47.8 billion and $12.6 billion in capital Interestingly, only two insurance
and surplus. Another of the big four HDI Group ranks seventh with a premium companies recorded a premium volume
European reinsurers, the French reinsurer volume of $56.0 billion and $8.9 billion of over $100 billion, and these companies
are AXA and Allianz.