QBE Ventures makes first InsurTech investment with RiskGenius

QBE dipped into a $50mn venture investment fund to invest in
RiskGenius, a developer of machine learning systems which the
insurer expects to begin using in North America next year.
Plans are in place to put 125,000 policy documents into a
RiskGenius system in 2018 for use by QBE North America, the
Sydney-based carrier said today. The technology is designed to
assist policy and endorsement analysis as well as product
development.
"QBE North America completed a proof-of-concept of the
RiskGenius.