Schedule – InsurTech

AI and RPA can help insurance businesses to streamline human-driven processes, analyse documents, and structure data. This panel will share winning strategies for successfully integrating AI and RPA to improve the insurance lifecycle.

• Identifying administrative tasks to prioritise during integration
• Common challenges to AI and RPA implementation
• Recognising and developing data sources for AI systems
• Utilising machine learning for data-driven insights
• Using AI and RPA to improve risk selection and assessment
• How to use AI to prepare for future crises

Insurance transformations have typically been long programmes centred around the implementation of a core monolithic system. As insurtech brings new and innovative solutions to niche problems, the previous approach to transformation has become increasingly outdated. This session will discuss: 

• How can we turn your insurance transformation ambitions to reality
• Leveraging EY’s cloud-native platform ‘Nexus for Insurance’ to transform insurers’ ideas into operational realities
• Explore how a curated ecosystem of advanced applications and software from leading InsurTechs and other providers can help insurers create their own platforms
• Case study: demonstrating how EY Nexus was leveraged at Nationwide Insurance to rapidly set up and scale a new company in 7 months

With the need for a coherent data strategy to stay competitive, how do you achieve this when your organisation is made up of over 30 ‘mini-organisations’ and all with differing needs and legacy landscapes?

• Identifying what we can do as a ‘community of IT professionals’ to overcome the above challenges
• Our implementation approach to this problem
• Some of the use cases we have solved to date and current projects in the pipeline
• Understanding the lessons we’ve learnt

One of the key components of a successful digital transformation is the people driving the change. What critical skills and capabilities do insurance professionals need to be able to facilitate and adopt digital transformation?

• Identifying business objectives to determine the required skillsets
• How to promote a cultural shift to adopt insurtech
• Attracting and retaining digital talent
• Improving the employee experience for a hybrid workforce
• Supporting employees with tools to deliver an efficient and reliable customer experience
• Continuous skill development through learning and development programs
• Developing KPIs to measure progress in building a digital workforce

Machine learning technologies have the potential to transform industry processes yet applying them in practice is complex. This session will discuss: 

• Practical examples of how to apply ML and AI within life insurance 
• Improving underwriting processes using AI and ML
• Successes and challenges from the deployment of the WunderWriter tool
• Key principles for practical success

Consumer habits and expectations continue to experience a significant shift. How can insurance companies cater to an increasingly diverse and digitally-savvy customer?

• What is customer experience, customer service, and customer centricity?
• Identifying the connections between customer experience and employee experience
• Understanding how multigenerational customer profiles use technology
• Comparing the customer experience between corporations and direct consumers
• Technology advancements in insurance claims versus policies (e.g. Saas, Blockchain solutions)

Cyber attacks are increasingly on the rise and can lead to costly consequences without a solid defense system. In this session, Grae will share steps to strengthen cyber security defense and minimise cyber risk exposure.

• Updating risk management strategies to prevent cyber attacks
• Identifying which parts of the network are most vulnerable to cyber attacks
• Creating an informed and resilient culture of cyber risk management in the workplace