Bermudian-based Aspen Insurance Holdings Ltd has launched Aspen Data Labs, a new platform to deliver the company’s digital strategy and drive forward its data and artificial intelligence agenda.

The company said Aspen Data Labs will bring together employees and partners to collaborate on data science and AI projects that improve operational efficiency and accelerate business results in underwriting and claims processes.

With data analytics and technology at the heart of Aspen’s operational and commercial strategy, the company said, Aspen Data Labs is born out of Aspen’s ambition to put more focus and resources into its overall data and technology strategy.

Over time, Aspen said, it will provide access to AI platforms, frameworks and tools to improve core business functions, client experiences and, ultimately, bottom-line performance. It will also foster partnership opportunities with leading third parties for continued innovation.

To mark Aspen’s renewed commitment to its data strategy, Aspen Data Labs is hosting its first AI Data Summit, to take place in London from July 16 to 18.

In partnership with innovation specialist LMarks, the event will offer employees and external suppliers a platform to pitch for ideas to improve Aspen's underwriting and claims processes through data and technology.

Christian Dunleavy, group chief underwriting officer, said: “Technology, and increasingly the potential of AI, is vital to our strategy. Aspen Data Labs will be instrumental in enhancing our decision support systems to bring solutions that improve our operations and customer outcomes.

"By bolstering our partner ecosystem with our internal capabilities, we are enhancing our capacity to innovate and deliver greater value, ensuring Aspen remains the partner of choice now and in the future.”

Rob Houghton, chief operating officer, Aspen, said: “I’m delighted to introduce Aspen Data Labs, a key step in advancing our AI plans and creating great solutions that enhance our experiences with Aspen for our customers, colleagues and business.

“Aspen Data Labs is the hub for us to build and develop our own AI services, bring in-house tech capabilities, recruit AI skills and secure our future with responsible AI governance.

"It is also about strong collaboration, and our first AI Data Summit is a great opportunity to exchange ideas, work with different teams and learn from outside experts.”