The Pan-Asia Risk and Insurance Management Association (PARIMA) launches PARIMA AI Labs, a pilot programme giving risk professionals experience in using artificial intelligence to develop solutions to risk management challenges. The two-day innovation workshop takes place on 3 and 4 October, ahead of the association’s Singapore conference, and brings together 20 participants. Each participant brings forward a risk management problem and works towards turning it into a working prototype. The programme requires no technical background or coding experience. Participants are guided through identifying and defining a risk management problem, developing a solution and using artificial intelligence tools to build an application that addresses it, directing those tools in plain language rather than through traditional coding. Erik Ingvoldstad, founder of Acoustic and creator of Weekend Startup Lab, and Maxwell Davis, enterprise risk and resilience leader at Rolls-Royce, facilitate the workshop. Three prototypes are selected after the workshop and developed further ahead of the Singapore conference on 15 October, where they are presented to the wider risk management community. A panel of three judges evaluates them and selects the best prototype, closing the pilot programme. The programme is open to PARIMA members, risk management professionals, insurance practitioners, compliance officers and professionals in risk-adjacent roles. Non-members may request a participation waiver. Davis says: "AI is rapidly changing the way organisations operate and the risks they face, but it is also creating new opportunities for risk professionals. Through PARIMA AI Labs, we want to give our community the opportunity to move beyond conversations around AI and experience what it means to build with it." PARIMA is a not-for-profit organisation with more than 2,600 members representing over 1,300 companies. Captive Insurance Times is a media partner for the PARIMA Singapore Conference 2026.
