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SUMMARY:The granular analysis of risk in complex insurance policies\, and 
 saving world heritage - Trevor Maynard\, Liz Marston\, Tobias Stone -- Sot
 era Heritage
DTSTART:20221124T130000Z
DTEND:20221124T143000Z
UID:TALK183020@talks.cam.ac.uk
CONTACT:James Fergusson
DESCRIPTION:Sotera is an Insurtech startup that was founded at Cambridge. 
 After completing the Accelerate Cambridge program it joined Lloyds Lab at 
 the Lloyds of London insurance market. Sotera started out looking at how t
 o use Computer Vision to identify potentially looted antiquities. The busi
 ness case pointed to insurance\, and the company is now developing a tool 
 that will be used in insurance and then offered free to the heritage secto
 r to record at-risk objects quickly (eg. museums and collections at immine
 nt risk from conflict). Sotera uses computer vision to identify high-value
  objects in a collection being insured. These objects are then analysed by
  a risk discriminator\, which compiles the knowledge of experts like curat
 ors\, insurers\, law enforcement into an algorithm that calculates the ris
 k of each object individually\, and in context. This produces a risk repor
 t and risk pricing for complex policies of objects based on a granular und
 erstanding of the risk posed by each object within that specific context. 
 The tool will change how insurers analyse risk within complex policies\, s
 uch as museums\, and for home contents policies of people with a collectio
 n of higher-value objects. Some questions we’re exploring include:\n- Ho
 w can we infer size of objects from images?\n- How to deduce quantitative 
 information from qualitative questions when interviewing experts about ris
 k.\n- Simulation design: is there are faster way?\n- What is the best way 
 to handle missing data: using averages or using random values from a distr
 ibution?\n\nThe talk will be lead by the Sotera team: Dr Trevor Maynard\, 
 currently Executive Director\, Systemic Risks at the Cambridge Centre for 
 Risk Studies\, and former Head of Exposure Management and Reinsurance and 
 Head of Innovation at Lloyds of London. Trevor is an actuary and mathemati
 cian with a PhD in Statistics from LSE\; Liz Marston\, entrepreneur and Eg
 yptologist who founded Sotera whilst at Cambridge\; and Dr Tobias Stone\, 
 tech entrepreneur and former archaeologist with a PhD in Innovation
LOCATION:Kavli Large Meeting Room\, Kavli Building
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