Insuring Innovation: Life Sciences and the P&C Insurance Industry

How does the property and casualty insurance industry help facilitate groundbreaking medical innovations and advance public health initiatives? By crafting unique risk management solutions, the P&C insurance industry helps allow companies to bring new medical technology and pharmaceuticals to market and make those that are already on the market safer. Dr. Marcus Schabacker, President and CEO of ECRI, and Jennifer Ampulski, AVP of Technology and Life Sciences at Travelers, join us to discuss underwriting innovation in the life sciences industry. They cover the evolving needs of the business, including risk mitigation in clinical trials, litigation, digital health, personalized medicine, the use of AI and more.

0:00 – Welcome.
07:59 – The life sciences industry faces a range of unique risks.
10:09 – Tailored insurance coverages can help support life sciences organizations.
15:30 – Independent product assessments can lead to safety improvements.
34:04 – Preventable medical errors continue to be high.
41:31 – New challenges are emerging.
54:09 – Post-pandemic elective surgeries may cause a rise in risk for the life sciences industry.
55:25 – Risk control and claims are key.
56:57 – AI is impacting life sciences.