How is the Industry Responding with the Influx of Big Data, Analytics and AI?
The digital connected world is having an impact on the technology environments that insurers must create to thrive in the new era of computing. The nature of customer interactions, business processes from product, risk and claims management are continuously changing. During this session we will review recent research and insights from insurance companies in the life, general and reinsurance markets and discuss the implications for insurers as the industry considers implications from core systems, predictive and preventive analytics and improvements to customer experiences.
Millions of dollars are being spent annually by the insurance industry in InsurTech investments from risk listening, customer interactions (chatbots, SMS messaging, smart interactive conversations), to methods of evaluating claims (digital capture at notice of incident, dashcams, connected homes/vehicles).
These are all new types of data which the industry hasn't previously had to manage and govern.
Additionally, at the heart of this is how to create new business opportunities from data. We will also have an interactive conversation on discussing and exploring insurance implications of the new computing environment from AI, Big Data and IoT (Edge computing).
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