Harnessing technology to evaluate risk for the future.

See you this Sunday, April 9th for the ORMIR / AXIS Re Future of Insurance Hackathon!

PROBLEM STATEMENT

In the insurance industry, information and data are critical to the work that underwriters perform. The ability to quickly analyze and make intelligent decisions from information and data can be the difference between underwriting at profit or taking a major loss for your company.

AXIS Re - part of specialty commercial (re)insurance firm AXIS Capital - and the University of Illinois Office of Risk Management and Insurance Research (ORMIR) are working together to provide a visualization tool for underwriters to: drill down on a geographic map of a region and quickly display key characteristics and financial impacts of risks found in that region. These risks include floods, hurricanes, earthquakes, tornadoes and other natural and manmade disasters, which can cause catastrophic damage in a region and which require specialized data analysis in order for insurance underwriters to assess the likely financial impact of each risk.

Using data provided by AXIS Re and ORMIR, we are looking for a visualization tool which automatically aggregates exposures in different locations within a risk boundary. The tool should also allow insurance underwriters to shift a boundary file (e.g., move the geographic boundary 50 minutes north) and see how the impact of a similar risk (such as a hurricane) would compare across different regions on a map. 

 

MINI CHALLENGES

In addition to first, second and third place prizes, we'll be offering chances for participants to win many other awesome prizes (XBox, Beats headphones, GoPro - and much more!). Just by showing up, you'll be eligible to win one of our mini challenges, including: 

Most Likely to Go Viral - Applications that are most likely to ignite the industry, gaining traction quickly across the industry.

Most User Friendly - How easy is the application to use and how quickly can it be implemented? 

Best Implementation of New Technology - This prize is awarded to the top solution that best implement new technology, including augmented reality (AR), virtual reality (VR), artificial intelligence (AI), drones, etc.

Global Impact - What type of global impact does your solution have? This prize will be awarded to the project offering the widest global solution.

Most Team Spirit - Show some enthusiasm! The team with the most spirit will win this challenge.

 

View full rules

Eligibility

Must be a current University of Illinois undergraduate or graduate student. 

Requirements

Details to come

How to enter

Simply register through Devpost and stay tuned for updates from the AXIS / ORMIR Hackathon Team. We'll be sure to provide you with everything you need to be prepared to get started once you arrive on Hackathon day!

Judges

Mark Vonnahme

Mark Vonnahme
Clinical Professor of Finance

Yasha Mostofi

Yasha Mostofi
Director of HackIllinois

Spencer Guerrero

Spencer Guerrero
Technical Analyst, AXIS Research Center

Laura Sime

Laura Sime
Senior Catastrophe Modeling Analyst, AXIS Capital

Dan Ascher

Dan Ascher
Senior Reporter at The Insurance Insider

Judging Criteria

  • Idea/Concept
    How original, concrete or realistic is the idea or concept
  • Creativity
    How creative is the solution
  • Completeness
    How complete / thought out is the idea or concept
  • Application
    How applicable is the idea or concept to the insurance industry and mitigating risk
  • Relevance
    How well does the idea or concept address the presented challenge