Digital Transformation in Insurance Conference 2023

• Investigating the digital preparations that insurers can put in place to prepare for the unknown

• Exploring what it means to be agile when navigating the new insurance environment
• Designing systems now that will promote future innovation and development to become resilient in the industry
• Evaluating the obstacles to fully digitising your organisation and determining how these can be overcome

Nuance conversational AI solutions for the insurance industry deliver intelligent, consistent omnichannel experiences across the customer journey, assisting insurers in converting and retaining more customers, providing more support to agents, and preventing more fraud.

• Delivering transformational change and implementing new innovative solutions when adopting a fully digital future

• Exploring areas of insurance that AI can elevate and allocating digital innovation where it has the most impact
• Implementing collaboration between target automation and human resources so empathy and be embedded to support vulnerable customers
• Utilizing AI and blockchain to increase customer retention and exceed expectations

Chair: Bartosz Golba- Research Director – GlobalData

Janthana Kaenprakhamroy – CEO and Founnder – Tapoly

Neil Walker – Head of Architecture – Covéa Insurance

Richard Gregory – Senior Account Director- Odigo

• Observations and learnings from digital insurance product distribution.
• Is claims management too complex and specialised for digital application.
• What does going digital really mean for a Claims operating model, its resources and the wider business.
• Balancing trust in customers and their 24/7 expectations, with claim validation including fraud prevention.
• Where do analytics play a part in enabling success

• Building a sense of belonging for staff working from home and ensuring the same standards are maintained across the board
• Developing growth and change strategies, as well as determining how to meet employee expectations for a modernised work environment
• Understanding generation Z’s current and future workplace needs and overcoming productivity barriers when working from home
• Examining gen Z in greater detail and showcasing successful case studies of enticing this generation to engage with insurance products more
• Utilizing employee experience technology and exploring the future of insurance workplaces

When the pandemic hit, many organizations rushed to add digital channels for customer engagement. However, the more touchpoints they added, the more their CSAT dove, stymieing their digital transformation initiatives. The reason? Ignoring knowledge management, according to leading analysts. In fact, they are recommending KM as the #1 technology to improve CX, EX (employee experience), and operating performance in 2022. However, legacy KM has failed to deliver the goods. You need it to modernize knowledge with a hub for success in the digital era. Some Fortune 500 leaders are already doing it for transformational results.

• Looking at how the ecosystem has developed over the last decade and exploring what the insurance industry can learn from Insurtech’s to become more digitally focused
• Assessing the opportunity for Insurtechs to attain scale by partnering with incumbents and exploring the accessibility and processes of partnerships
• Creating shared connections and aligning contrasting working environments and internal processes
• Presenting the degree of negotiation and transparency required when creating partnerships
• Evaluating the long-term implications of not embracing digital innovation and technology quickly enough

Insurtech is an incredibly powerful set of tools for virtually all stakeholders. However, possibly down to the effectiveness of it, some of the assumptions about what it can and can’t do are wildly inaccurate. Join INSTANDA’s Head of Solutions Gari Gono, as he explores some of the most common, and harmful InsurTech myths that need debunking

• Navigating finding the most suitable digital provider for your organisation, to stay head ahead in the industry
• Addressing connection challenges between insurance and technology providers and creating a barrier of mutual understanding
• Looking at how to best communicate the complexity of insurance products to solution providers and exploring the different IT and technological solution areas
• Considering the speed and deadlines when choosing a solution provider and ensuring initial contact is clear and concise while confirming the digital specifications and requirements

• Modernize your insurance client interaction management with a secure, onestop interaction workflow platform
• Building a onestop hub to manage your complete insurance client life cycle across account onboarding, account servicing, and exception handling
• Rethinking today’s costly, inefficient, and fragmented client engagement model, which requires significant manual intervention
• Streamline client business processes across your insurance firm and orchestrate each step of your workflows to fast-track client business

• Meeting customer expectations through building brand loyalty and leveraging new technology
• Examining the distinction between factual and creative branding to meet industry demands
• Establishing relationships with customers by enhancing the effectiveness of communication and product design
• Using the Omi channel path to provide a unified user experience and build brand loyalty

• Assessing the ongoing challenges, the pandemic presents to the insurance industry and using digital techniques to rebuild customer trust and retention
• Learning from consumer attitudes in unpredictable times and catering to the new behavioural habits
• Adhering to new regulations enacted in the aftermath of the pandemic, as well as discussing the ethics of sludge practices
• Marketing and phrasing insurance products concisely to set clear understandings and expectations for customers

• Addressing the challenges when achieving a single customer view and looking at how to make data more accessible to provide a greater customer experience
• Investigating the most cost-effective ways of integrating old systems onto new ones to allow for data accessibility
• Navigating the best methods of data management and understanding the importance of this when implementing AI onto systems
• Positioning data at the center of business decision making and ensuring data integration is accurate and conducted in real-time

• Presenting digital transformation insights from Micorosft and a variety of other sectors.
• Creating powerful and adaptable IT systems that enable customers to quickly innovate and disrupt the market.
• Showcasing examples of transforming small and large organisations to digital businesses using cloud, devOps and custom development

• Explore how companies leverage process understanding to become winners in an ever-changing world
• Identify where to find waste in your processes and what to do about it
• Learn how to reduce waste in the digital transformation initiatives
• Case Study: See what a travel insurer gained from Process Mining

• Changing customer requirements – Improving top line up to 7%
• Speed to market – Minutes not Months
• The spiralling cost of payments – Saving 90% IT costs
• Case study #1 Eliminating Broker <> Carrier payment reconciliations
• Case study #2 Solving Claims Payments
• How to get started

• Navigating the significance of ensuring risk is ingrained and understanding the consequences to the industry if it is not
• Exploring methods of risk management and prevention from a regulatory and business perspective
• Exploring case studies of successful risk automation from a range of insurance and reinsurance areas including environmental, liability and agriculture
• Looking to the future and strategical planning and incorporating risk automation

• What the customer wants
• What the insurer wants
• The ROI and use of resultant data to continue the insurers transformation journey

• The problem
• The solution
• The results
• Challenges along the way and how we solved them

• Looking at the demand for change from the traditional business underwriting model and opening new horizons that surpass the obvious usage-based insurance
• Presenting a greater connected world, and exploring the use of technology and mobile data analytics in insurance
• Outlining the speed-accuracy of using risk analytics from mobile and device data, using examples from motor and life insurance
• Understanding the algorithms that can be collected, stored, and analyzed through mobile platforms

• Evaluating the risks of working from home and protecting data
• Reducing risks and increasing data security by examining the growing cyber threats that impact data platforms
• Demonstrating risk quantitatively, and defining a strategic roadmap to the business goals
• Understanding the liability of the workplace as we shift further towards a remote working environment

• Implementing marketing and self-service strategies that make the customer journey smoother and less time consuming

• Exploring the increase of financial wellbeing priorities since the pandemic and understanding what the insurance industry can do digitally to meet customer expectations
• Digitalising your organisation to make you a leader in the marketplace and examining techniques to stand out from the crowd
• Unleashing how to successfully transform a business digitally and embracing digitalisation in a whole new way to retain customers and cater to all audiences

• Presenting digitally innovative and customer-centric case stories from the insurance and outside industries
• Adopting an ecosystem mindset as traditional industry borders fall away and understanding the evolving insurance landscape
• Discussing the complex challenges with pricing and legacy systems the insurance industry faces in comparison to other industries and navigating the feasibility of digital tools

• Highlighting the emerging risks and climate change implications for the insurance industry and exploring the capability of technology to aid in becoming more sustainable
• Restoring and recycling; taking steps to become carbon net-zero and showcasing examples from the industry presenting mass timber, recondition parts and digital incentives
• Mitigating the impact of climate change events before they occur using AI and technology, allowing customers to begin the recovery and claims process at a faster speed
• Understanding regulatory requirements when implementing climate-friendly initiatives

• Exploring how apps can be used to scan products in the claims process using examples from home insurance.
• Unlocking the importance of customer trust and evaluating how the claims process and customer journey can be made easier.
• Highlighting the benefits of utilizing technology and understanding how apps can be implemented successfully in insurance.
• Looking at the need for digital transformation and moving forward from old habits.

• What will the metaverse look like?
• What threats and opportunities will the metaverse offer to insurance companies?
• How can insurance companies benefit from digital assets like NFTs, virtual lands, malls spaces, and digital art?
• What are the risks of owning digital assets in the metaverse?

Introducing a provider of cloud-based AI and predictive analytics solutions for life insurance companies.

Data-driven turnkey solutions have a direct impact on companies across the value chain, allowing them to better serve their customers and generate new revenue streams.

• Transforming group insurance into a life-enhancing benefit that priorities health
• Investigating strategies for making insurance more entertaining and user-friendly for customers
• Emphasising the importance of data privacy and achieving this when digitally transforming in insurance
• Modelling group insurance around risk prevention rather than claims compensation

• Presenting a case study of creating efficient customer-centric and innovative processes in dental insurance
• Integrating insurance proposition and getting the brilliant basics done right to enable pathways to treatment and care
• Streamlining the claims process digitally and exploring methods of transformational change in complex organisations
• Creating maximum value for customers and showcasing techniques of using digital enchantments to expand

• Upskilling and redesigning roles around automation and digitally innovation
• Utilizing direct talent, leadership and technology to digitally transform and implement new digital strategies
• Looking at where to find the expertise required, and understanding how best to appeal to outside talent
• Exploring the demand in technical domain roles and techniques to achieve talent retention
• Navigating the changes and priorities these implementations will have on HR departments

• When tech and data collide, exploring the growing market for parametric insurance

• Using parametric insurance to build resilience to climate-related disasters
• Placing the emphasis on data analytics for parametric insurance and collecting and combining data from IoT devices to achieve smarter results
• Exploring the potential of parametric insurance in restoring confidence and customer trust

• Identifying risk early and utilizing data in innovative ways to better serve consumers
• Confronting the complexities of legacy systems and data architecture and examining ways to retain information and use data effectively
• Taking a data-driven approach to digital transformation and implementing successful change management strategies
• Recognising the impact of traditional operations and ensuring there are no transformational delays

Traditional AI is limited by the past, causal algorithms answer the question why?

Why is an increase in fraudulent claims?

Why is property underwriting risk growing and what are the underlying drivers?

Why do customers churn and how do we increase retention?

These are just a few of the use cases causal AI is addressing.

Causal AI is supporting the complete digitalisation of customer journey from acquisition to a claims event and renewal.

With a Causal approach we are using data to build a full 360-degree customer profile to facilitate cross selling – distribution – and next best actions.

Join us to see how causal AI is driving the transformation in insurance.

• Changing from an opportunistic to a strategic approach to technology transformation
• Highlighting the strategic priority of digital transformation and exhibiting effective techniques to achieving operational resilience when digitalizing departments
• Implementing technology and tools that allow for automation to be applied with an agile approach
• Overcoming cultural challenges when delivering transformational change and addressing the challenges in the economic environment

• How to approach defining the ‘right’ data for your business
• Looking at nonobtrusive generation and collection of behavioral data
• Leveraging technology, capabilities and skill sets to drive maximum customer value from data