FutureProof

The rapid adoption of generative AI is radically transforming how professionals deliver services in a way we have not seen since the dawn of the internet. The type, extent and severity of the professional indemnity claims of tomorrow will be the product of this technological revolution which will in turn impact on the risk profiles of firms. Insurers will need to respond and adapt their underwriting processes and appetite for risk and opportunity. There are no simple answers to what the professional indemnity landscape will look like as the pace of AI adoption continues and will turn on a panoply of factors across sectors. What we do know is that change is coming and the insurance market will need to reflect, plan and adapt.

Our FutureProof series will look at a whole range of issues including:

How professionals across a range of sectors are already using AI and how AI is likely to change the way those professionals work in the future
The benefits and risks to professionals of using AI
How the use of AI may change the claims landscape for professional indemnity insurers and the issues that insurers need to be thinking about now
The regulatory landscape surrounding the use of AI by professionals
How the law of professional negligence might develop as a result of AI
What all of this means for professionals and their insurers

It is designed to be of interest to anyone connected with the professional indemnity market – including professionals, brokers, insurance underwriters and those that handle claims against professionals when they arise.

As the series develops, we’d also love to hear from you with your own thoughts and insights.

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We recently hosted our first ever FutureProof conference in our London office. Topics from the day included:

Session 1: The Rise of (Gen) AI - a look at how AI works, the rapid advancement of generative AI and its transformative potential.
Session 2: AI in action - showcasing real-world examples of how AI is being used by professionals, including a live demo showing how AI can be used by architects to create concept designs for new buildings.
Session 3: The impact of Gen.AI on the PII Claims Landscape - an in-depth analysis of the risks posed by the use of AI by professionals and how that could result in claims being made against professionals.
Session 4: Coverage Issues and Subrogated Recovery Challenges - delving into the complex insurance coverage issues presented by AI, how the market might respond to those, and the challenges of making recoveries from AI providers when the AI is at fault.
Session 5: Regulatory, Underwriting, and Claims Challenges and Opportunities - a panel session where we were joined by external speakers sharing their perspectives on the regulatory, underwriting, and claims challenges and opportunities that AI brings to the professional indemnity market.

More content from the day will follow shortly!

We would love to hear from you with your thoughts on AI and its impact on the world of professional indemnity insurance – complete our survey below.

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Read our article series

The impact of AI on the world of professional indemnity insurance

In this first article, we share insights about what AI actually is, how it works, and why it’s likely to change the way that professionals such as lawyers, architects, and accountants currently work as the technology continues to develop.

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The rising use of AI by the legal profession

In the second article of our FutureProof series, we look at how lawyers are adopting Gen AI and the opportunities and risks which this presents, both for lawyers and their professional indemnity insurers.

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What are the professional indemnity implications through accountants’ adoption of generative AI?

We explore how accountants are adopting generative artificial intelligence and how this might impact on the types of claims we will see and the risk profile of firms.

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How are architects using Gen AI and what are the implications of its use in the future?

In this article, we explore how Gen AI is currently being used by those in the world of architecture.

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AI and the Regulatory landscape - what does this mean for professionals?

We explore the regulatory landscape regarding AI and consider what this means for professionals who use it.

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How do you sue a robot?

The potential benefits of Generative AI are well publicised and, over time, it will start to transform the way in which professionals work. But it also raises questions about the risks that arise from its use and, particularly, how liability will attach if it all goes wrong.

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Meet the team

Our specialist multi-disciplinary team combines a wealth of legal expertise with cutting-edge technology to meet the evolving needs of the insurance market.