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It is generally now accepted that for insurance, innovation is a ‘must-have’, rather than a luxury. To attract and retain consumers today, to remain competitive and efficient in business, Insurance companies are increasingly turning to the growing number of technological solutions on the market, such as AI, chatbots, automation and more.
However, investing in costly initiatives and deploying cutting-edge technology will always constitute a risk, even in the most benign of business environments. This is even more true in the context of squeezed profits, tightening regulations, and shrinking consumer trust. Overspends on expensive projects can quickly run into the millions, whilst operability issues with new technology can have serious financial and reputational consequences.
In the meantime, as long as the options available to consumers continue to grow, the average customer will not stop and wait for those who lag behind to catch up, if improved products and customer service are offered elsewhere. The emphasis is on insurance carriers to deliver (or better) the services and standards that consumers can receive from others, or risk drifting into irrelevancy.
To provide insurance carriers with actionable strategies to implement emerging technologies across the organization, Insurance Nexus is holding a live webinar, Fast, Agile, Service-Driven Insurance: Fuse Innovative Tech to Your Company DNA - AI, Chatbots, Automation and More, taking place Wednesday, December 11th, at 10am EDT. Moderator Christopher Frankland (Founder, InsurTech360.com) will be joined by AXA Insurance Director of Strategic Operations, Justin Gress and Hippo Insurance Chief Insurance Officer, Richard McCathron, to uncover how, with the right strategies in place, technology can transform an insurance carrier into a fast, service-driven organization.
• Discover emerging technology’s true value: Leverage tech and transform your organization, from claims processing to risk management and streamlining of overall operations
• Improve your profit margins and transform CX with automation: Learn how to deploy automation with emerging technologies such as ML and AI and gain business efficiencies
• Innovation as a strategy to stay competitive: Hear how to achieve competitive advantage with innovation- improve data security, exchange data seamlessly, monitor customer behavior and reach a new generation of customer
This webinar is being run in association with the upcoming Insurance AI and Innovative Tech USA Summit 2020, an event by Insurance Nexus, a Reuters Events Company. Expecting more than 500 attendees from across the North American insurance ecosystem, the Insurance AI and Innovative Tech USA Summit brings senior innovation and business unit executives to uncover the rewards of embedding technologies such as AI, IoT, blockchain and automation to create valuable, relevant insurance products and services and seamless experiences through the power of tech-enhanced operations. For more information, please visit the website or get in touch with a member of the Insurance Nexus team.
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