What does better use of data look like in travel insurance?

1. AI has moved quickly from experimentation to practical application. Where is Verisk already seeing it make a meaningful difference, and what have you learned from putting AI into practice?

One of the biggest lessons we’ve learned is that AI works best when it makes expertise more accessible rather than replacing it. At Verisk, we’re already exploring practical applications, including our Risk Rating Support Line chatbot, which helps users navigate routine medical queries more efficiently. AI delivers the greatest value when it’s solving a genuine problem rather than being implemented for its own sake. We’ve also learned that successful adoption depends not only on technology, but on trust, governance and quality data.

2. The travel insurance industry generates huge amounts of data. Are we extracting enough value from it – and what could become possible if organisations collaborated more effectively around data and insight?

The honest answer is probably not. The industry already has access to a vast amount of information, but much of it remains fragmented across organisations and systems. The biggest opportunity isn’t collecting more data, it’s connecting the data we already have. Greater collaboration could help insurers identify emerging trends earlier, better understand customer behaviour and make more informed decisions. Those who successfully turn data into actionable insight will be best placed to respond to a changing market.

At Verisk, we’ve seen the significant value that contributory datasets can deliver in other lines of business, helping participants gain deeper market insight, improve decision-making, and drive better outcomes for both businesses and customers. We believe there is a real opportunity to bring a similar approach to the travel insurance sector and are keen to work collaboratively with the industry to explore how shared data and insight can unlock value for all participants.

3. Customer insight is another important source of data. How are customer engagement and feedback influencing the way Verisk develops its Risk Rating Tool?

Customer feedback plays a key role in how the Risk Rating Tool evolves. Many of our enhancements are driven by feedback from our partners, helping to inform the regular updates and continuous improvement of our medical datasets. We’re also continuing to collaborate with industry experts to evolve our solutions through behavioural science insights, helping us create more intuitive customer journeys and enabling customers to better understand the questions being asked and the information they need to provide throughout the declaration process.

4. International expansion is another area of focus for Verisk. Where do you see the greatest opportunities for growth – and what does it take to successfully adapt your approach for different markets?

We’re seeing significant opportunities across several markets. We’ve already established strong momentum in Australia and Canada, and we’re increasingly excited by the opportunities emerging across Europe. By combining our proven expertise with local market insights, we’re well positioned to support insurers as they navigate evolving customer needs and market dynamics internationally.

5. Looking ahead, what do you think will have the biggest impact on the way travel and health insurance risk is understood and assessed over the next few years?

I think the biggest impact will be insurers finding better ways to assess risk while continuing to make cover accessible to more customers. As medical conditions become increasingly prevalent and customer expectations evolve, there will be growing demand for solutions that can assess risk consistently, fairly and at scale. Advances in data and technology will support this, but the medical expertise, governance and customer insight behind those assessments will remain just as important. The goal is not simply to understand risk better, but to enable more customers to access suitable cover with confidence.