Young’s hands-on knowledge of reinsurance treaties will advance industry adoption of Friendly’s treaty assistant, Omniscient.

Friendly, provider of enterprise artificial intelligence (AI) solutions purpose-built for insurance and reinsurance professionals, is pleased to announce Michelle Young, FSA, MAAA, has recently joined the company as SVP of Business Development and Strategy.

Young’s impressive insurance industry track record includes nearly ten years with SCOR, most recently as VP of Partnerships, and actuarial positions of increasing responsibility with Munich American Reassurance Company earlier in her career. She is known for driving revenue growth through innovative product and program strategies and is exceptionally skilled in managing cross-functional teams, developing underwriting frameworks, and integrating complex data systems to enhance risk mitigation.

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“I know Friendly’s target audience and where the company’s products ‘fit’ within an insurance organization,’” said Young. “So, it’s not a stretch for me to hit the proverbial ground running when it comes to making strategic connections and envisioning partnerships that will advance Friendly in the market.”

Young’s proven ability to lead successful program implementations, optimize operational efficiency, and deliver impactful financial results within the insurance and reinsurance sectors will aid her and her team as the company grows. She holds the Fellow of the Society of Actuaries (FSA) designation and is a member of the American Academy of Actuaries (MAAA) as well.

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Friendly’s insurance-centric AI solutions employ deep learning principles to enhance underwriting decisions, uncover critical nuances in contracts and reinsurance treaties, and unify the claims process for faster, more confident, resolution. Omniscient, Friendly’s treaty assistant, helps insurance and reinsurance organizations, brokerages, and law firms better analyze treaties, track amendments, extract key data, compare and contrast specific terms and conditions, and make informed contracting decisions more confidently. The world’s leading reinsurance firms rely on Friendly and Omniscient for a more efficient approach to reinsurance treaties.

“Our focus has traditionally been on the strength of our solutions, so it’s great to bring someone onto the team with Michelle’s industry connections and an external, growth mindset,” said Natasha Alexeeva, CEO of Friendly. “Friendly is at the leading edge of AI implementations in the insurance industry and we’re looking forward to continuing the momentum in 2025 and beyond.”

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Source – Globenewswire