Sollers Consulting’s Post

Two super interesting days at Insurance Innovators Summit in Copenhagen! When listening to Sofia Kwarnmark speak about future opportunities for automation it is apparent that Gen AI is a topic on everyone's agenda. This raises the importance of bringing employees along on the journey. How do we ensure that our people are engaged and skilled to manage this new world. I see so many opportunities for development, growth and co-creation! Looking forward to seeing how we can design more initiatives to support this progress. #iinordics24 #axapartners #innovation

💬 ‘What matters is the value proposition, not the technology’ 💬 A very important message I took away last week from the Insurtech Insights Europe Conference, which was a packed two days of panels and keynote speeches on technology within the insurance sector. The exhibition of vendors stands shows there is no shortage of people entering the insurance technology market and overall the increased awareness that digital transformation of the sector is no longer an option, but a necessity for both insurers and brokers to stay competitive in the evolving market. There of course was a lot of chat about AI and what that could entail for the future, however this shouldn't be the only technology we now discuss. 👨💻 💡 So, when we start thinking forward into the near future, the topic that did come up briefly and interested me the most are the huge changes we are going to face across the workforce globally.💡 🧠 35% of the global workforce is set to retire in the next 5 years – what does that really mean in terms of risk for a business? The challenge is not only who, or potentially what technology might replace these employees. More importantly what is the human intelligence risk – how much knowledge is held in those workers minds that is integral to running the business operations? Ultimately, in my opinion we need to get better at preventing risk, not protecting ourselves from the risk but tackling it head on and removing the risk altogether with the power of technology. ❓ So should it be Insurtech or should it be Risktech? ❔ #insurtech #risktech #digitaltransformation

The fusion of technology and data is reshaping the way insurers operate, assess risks, and engage with their clients. The rise of InsurTech, a term coined to describe the integration of innovative technologies within the insurance sector, has been a driving force behind this transformation. At the core of this revolution lies the powerful duo of Big Data and Analytics, unlocking unprecedented opportunities for insurers to: - enhance decision-making, - streamline processes, and - offer more personalized products and services. #sciente #usa #businessconsulting #insurtech #insuranceindustry #bigdataanalytics

The fusion of technology and data is reshaping the way insurers operate, assess risks, and engage with their clients. The rise of InsurTech, a term coined to describe the integration of innovative technologies within the insurance sector, has been a driving force behind this transformation. At the core of this revolution lies the powerful duo of Big Data and Analytics, unlocking unprecedented opportunities for insurers to: - enhance decision-making, - streamline processes, and - offer more personalized products and services. #sciente #usa #businessconsulting #insurtech #insuranceindustry #bigdataanalytics

Sustainability reporting, Data collection & utilisation and Regulatory compliance are just a few business challenges we’re accelerating clients to overcome on their #sustainability journey. Drop me a DM for a free session to see how we can help. 💚💻📞 #secr #compliance #reporting

🌟 The future of the insurance industry is here and it's dazzling with technology! 🚀 From AI-driven customer service to IoT-enabled claims, we're embracing a new era of efficiency and personalization. 🤖💼 𝐖𝐡𝐚𝐭 𝐢𝐧𝐧𝐨𝐯𝐚𝐭𝐢𝐨𝐧 𝐞𝐱𝐜𝐢𝐭𝐞𝐬 𝐲𝐨𝐮 𝐭𝐡𝐞 𝐦𝐨𝐬𝐭 𝐢𝐧 𝐭𝐞𝐜𝐡 𝐭𝐫𝐚𝐧𝐬𝐟𝐨𝐫𝐦𝐚𝐭𝐢𝐨𝐧? 𝐒𝐡𝐚𝐫𝐞 𝐲𝐨𝐮𝐫 𝐭𝐡𝐨𝐮𝐠𝐡𝐭𝐬! 💬🔍 #InsuranceTech #FutureOfInsurance #InnovationTalk 🌐✨"

In the dynamic world of insurance, addressing complex challenges requires innovative actions. Here are the key strategies we're suggesting: 1.    Enhanced Insights: Increasing the granularity of insights from emerging claims experiences, allows to quickly identify and address customer and insurer pain points on an individual level, moving towards real-time insights. 2.    Cross-functional Collaboration: Breaking down silos and fostering systematic collaboration across functions is crucial to leverage critical data from underwriting to claims, enhancing decision-making and service delivery. 3.    Value-driven Tech Implementation: It's time to reimagine the sector’s approach to technology and AI. Moving beyond pilots, holistic transformations can integrate technology seamlessly with processes, people, and operational strategies. 4.    Empowering Claims Handlers: Elevating the role of claims handlers from tactical to strategic, digitally empowering them to transform the claims journey and drive enterprise-wide insights. Now is the time to innovate and transform to better serve clients and streamline processes. #TechDrivenInsurance #ClaimsInnovation #AIInsurance

Join us at TINtech on June 25th, where James Russell, Head of Claims Transformation at esure Group, will lead a session on driving up engagement in personal lines insurance. With extensive experience managing key accounts and leading significant transformation initiatives, James has developed a deep understanding of what drives substantial benefits for customers and organisations alike. Session highlights include: 💡Tackling the challenges of legacy systems to improve customer journeys 💡Leveraging automation and overcoming data hurdles to enhance operational efficiency 💡Insights into GenAI applications, focusing on what works and potential pitfalls James’s expertise also extends to leveraging digital tools to identify and support vulnerable customers, showcasing the importance of technology in creating more inclusive services. What are your thoughts on the potential of GenAI to transform customer service in your sector? View the full agenda here: https://lnkd.in/eQfj83sH #TINtech #Personallines #GenAI

Successful digitalisation: Three things to focus on in 2024.   The ability to navigate transformation and digitalisation will continue to be a priority in 2024 as businesses (both established and new) look to take advantage of AI and other technologies to drive business growth. In my experience, clearly defining “what transformation is needed” is critical to move from a digital-first strategy to focused and successful execution of digitalisation.   My approach has been to focus transformation on actions that address and minimise three imbalances: information, access and action. ✅ Information imbalance. Take action so customers have the same information as the insurer to build awareness of the need and value of insurance. ✅ Access imbalance. Take action to improve existing channels and provide more channels so that people have more options to buy or use insurance in ways that best suit them. The more convenient, the stronger the conversion and stickiness. ✅ Action imbalance. Take action to empower customers to buy, change, claim, scenario test and track independently or with frictionless digital/human models. Increasing customer utility has proven to increase adoption of digital tools and services as well as drive retention and tenure. Picture: Sharing my experience on this topic at Insurtech Insights Asia 2023. #transformation #digitalisation #innovation #aiadoption #customerexperience #customercentricity #digitaltransformation

The constantly evolving digitisation of the insurance industry is changing and shaping the nature of products and services being offered. The question is, do old methodologies and tech configurations actually meet the changing needs or do they stubbornly prevent authentically new products and services from emerging? At Data-Sandwich we have a way of productizing so the product matches the need rather than the aforementioned limitations. If you would like to hear more about our patent-pending methodology and supporting tech please get in touch #insurtech #innovation #digitalisation