The risk itself is changing
Autonomy and connected vehicle data can change claim frequency, repair costs and who is responsible when a loss occurs.
JOHAN STRYDOM · PRODUCT DEVELOPMENT ACTUARY
Technology is changing insurance at the level of the risk itself.
Analysis of how AI, vehicle technology and new data affect insurance pricing, claims and product design.
LATEST BRIEF
THE EXPONENTIAL INSURANCE BRIEF
Read the latest Exponential Insurance Brief on Substack
Open the publication for the current edition and the complete archive.
THE PRICING ACTUARY’S LENS
Eight tests for how technology changes risk, markets, capital and customer outcomes.
One framework, grounded in pricing and product development. Open a test to see the question behind it.
Explore the complete frameworkRisk mechanics
Frequency
How could this change how often claims occur?
Severity
How could this change average claim cost—and the shape of the severity distribution?
Exposure basis
Is the exposure unit we currently use still valid, measurable and causally connected to the risk?
Tail and accumulation risk
Could this limit or amplify large individual losses, correlated events, accumulation and catastrophe exposure?
Market and capital
Price response and selection
How price-sensitive is the market—and how might customers entering, remaining or leaving change the risk mix?
Capital vulnerability
Could naive or under-informed insurance capital be burned before credible experience emerges?
Customer outcomes
Customer expectation
Do customers want or expect change—and will they recognise and pay for the resulting value?
Duty to act
Where Consumer Duty applies, could doing nothing permit foreseeable harm, poor value or another poor customer outcome?
THE REQUIRED CONCLUSION
The Lens must end in a decision, not a list of observations.
DirectionMagnitudeTimingEvidenceResponse
APPLICATIONS OF THE LENS
THE THESIS
New data changes what insurers can measure and price.
Connected vehicles, driver assistance and AI change the information available at quote and claim. I examine where that evidence supports a change to pricing, cover or claims handling.
Quote systems now validate, price and explain risk
Quote systems can check answers, add relevant data and explain pricing during the customer conversation.
Controls for AI-assisted decisions
In regulated markets, useful AI needs evidence, controls and a clear point at which a human remains accountable.
FLAGSHIP ESSAY
GEOSPATIAL PRICING · UK MOTOR
Beyond Postcodes
Using road, traffic and environmental data in motor pricing.
The essay sets out a practical route from postcode factors to explicit road, traffic, crime, land-use and environmental signals—and the tests needed before they belong in a pricing model.
INSURANCE EXPERIENCE
A pricing view shaped by building insurance businesses.
My work at MyPolicy and JURNY combined pricing, underwriting, telematics and product development.
The fuller story25+years in UK insurance
£2m → £40mapproximate MyPolicy GWP growth over 2.5 years
15+years in connected vehicle data
Founder → acquisitionMyPolicy and JURNY acquired by Acorn Insurance
ABOUT
My work in pricing, telematics and product development.
I’m Johan Strydom, a General Insurance Actuary with more than 25 years’ UK insurance experience across pricing, product, underwriting, telematics, data science and technology.
I founded and built MyPolicy and JURNY through to acquisition by Acorn Insurance. Today, as Co-Founder, CEO & Chief Actuary of InsureLab.ai, I work where rating, validation, fraud intelligence and governed AI meet the broker and customer journey.
THE EXPONENTIAL INSURANCE BRIEF
Get the Brief each week.
One technology development each week, with its implications for pricing, claims and insurance products.
Subscribe free Free on Substack, with links to the underlying sources.