Add by RSS Feed
Get the Android app
Get the iOS app
Insurtech Story Podcast
Apr 13, 2021
The insurer of the future - a digital strategy viewpoint
Play • 40 min
The insurer of the future - a digital strategy viewpoint
Track duration: 00:39:42
More episodes from Insurtech Story Podcast
3 days ago
How digital first approach will define modern insurance in Asia Pacific
The insurance industry is being transformed by technology and digitisation, making it more important than ever for insurers to focus on providing digital client service while also adding a human touch to gain their trust. Companies are implementing chat bots and investing in AI/ML to optimize client support digitally as they transition to a "digital-first" strategy. The way insurers operate is fundamentally altering as digitalisation sets a new bar for commercial success. According to SMA study, only four years ago, fewer than 40% of insurers identified as digital insurers; today, more than 90% do. Leading insurers are increasingly enhancing the sales and service experience for agencies and policyholders while decreasing losses and boosting ease-of-use. They do this by utilising digital tools, developing technology, as well as external and internal data. However, being fully digital requires more than just employing technology. Points of discussion 1. A digital first strategy essentially includes a large component of digital products and tools. How do you see this development coming across among insurers in the Asia Pacific? As a following questions, can you demonstrate the process of digital product development to our listeners. 2. Every digitisation effort comes with its own share of challenges and from the product development side, what challenges do you see specially from the sustainability and innovation point and how do you overcome these roadblocks. 3. What trends do you see in the digital products innovation side in insurance that has the potential to fuel growth in Asia Pacific. Speaker Bio: Anupam Dey, is the Head of Digital Products for APAC at Zurich Insurance and he is based in Singapore. He has a strong track record of building and leading multi-million dollar digital businesses. Prior to joining Zurich, he was at Acko General Insurance, India’s first digital Non-life Insurance unicorn where he was an early employee and Senior Vice President. He comes with rich experience in product and P&L management and in scaling Insurtech businesses. He has an MBA from MIT Sloan School of Management and has previously worked with global banks such as Standard Chartered, Barclays and DBS.
Sep 19, 2022
How Artificial Neural Networks unlock insights from unstructured data to benefit insurance
Today, with fierce competition in the insurance industry, it is imperative for insurance companies to up their game in customer experience. Faster policy issuance, faster customer grievances resolution and faster claims closures help insurance companies attract more customers to them. At the same time, the companies must mitigate their risks of customer churn and early or fraudulent claims. With advancement in technology insurance companies today have huge amounts of data in a variety of formats such as videos, images, audios, text. With the advances in AI and Artificial Neural Networks, this data can be fully leveraged to support the companies in making quick informed decisions. Points of discussion: 1. Dealing with unstructured data is one of the difficulties data scientists encounter. How do you think Artificial Neural Networks can solve this problem for insurers. Following question: And how Artificial Neural Networks outperform the traditional models? Any example from the insurance sector? 2. How do you think, Artificial Neural Networks can help Insurance companies to improve persistency and predictability. 3. What are the current developments happening in the world of Artificial Neural Networks that can help the insurance industry? Speaker Bio: Neeraja Vaidya, is a Machine Learning Specialist at Aureus Analytics and she is associated with the company for the past 8 years. At Aureus, she works heavily with Deep Learning and Text Analytics. From the academic side, Neeraja is a post-graduate in Economics, and later studied business analytics and intelligence at Indian Institute of Management Bangalore.
Aug 29, 2022
Leveraging low-code/no-code in insurance core system for better innovation
Software can be swiftly developed using low-code platforms with little proprietary coding. These platforms offer basic code and connectors so that businesses can create applications without having to create intricate infrastructure. Customizable workflows and features are made possible by low-code software, which also reduces the development period to a few days or hours. To build things, nevertheless, takes solid programming abilities. Insurance companies can work together with the core system to maximise their innovation, even if low-code/no-code platforms are frequently praised for their simplicity of use and capacity to increase productivity. Insurance companies may develop really innovative products and first-rate client services by utilising a low-code/no-code platform to create digital frontend experiences and an insurance core platform to provide strong backend capabilities. Points of discussion 1. Platforms for low-code development enable users to create unique applications without having to be familiar with languages like Python or Java. Can you brief us on what this low-code platforms are built and how it enables innovation in insurance? 2. What distinguishes core insurance platforms from low-code/no-code development platforms? Any examples from CoverStack? 3. In insurance what matters the most is creating great experiences for customers. How do you think, low-code/no-code platforms can improve the end-to-end experiences of customers when combined with the insurance core system. Speaker Bio: John Mayne, a senior professional with over 25 years of experience across Insurance, Banking and Micro finance. He is currently the Executive Director of Coverfox Group which includes subsidiaries (Coverfox Insurance, Coverstack Technologies, Coverdrive). Prior to Coverfox, John co-founded and led Future First and Anjali Micro Finance. Besides, he has also successfully ran large profit centres and SBUs across various business lines in India and abroad.