Cyber insurance has become a common risk mitigation strategy to lessen the financial impact of a cyber incident. However, it's not until an incident happens that we really think about the type of coverage we carry and how it affects our ability to recover. Dickinson Cybersecurity Law Attorney John Lande and consulting and audit firm SBS CyberSecurity first aired a webinar on April 30 to discuss common questions and issues that arise during an incident as well as what information you should know about your policy to quickly take action. It is now available as an on demand resource. The webinar also includes case studies that cover real-world scenarios that will arm your institution against the next incident.
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Customer churn over lost loyalty and poor customer experiences can cost as much as $470 billion in premiums globally. Increasingly, the insurance customers' buying expectations have shifted, while the industry is rapidly figuring out how to meet the customers where they are. Technology advancements such as data analytics and AI are rapidly being adopted to boost client acquisition, cross-sell and up-sell. Insurers are finding new ways to offer dynamic and personalized recommendations, leverage more data to understand risks, pricing and customized experiences across all channels.
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Cloud computing has revolutionized the way businesses operate, and the insurance sector is no exception. Advancements in data storage, API and insurance claim management are among the few use cases that help businesses to drive organizations forward through faster platforms, increased efficiency and greater scalability. Join our webinar to find out what are the potential opportunities and likely challenges that incumbents should expect while facing modern advancements in cloud computing.
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Congnizant
A panel of business and technology experts will examine how insurers are using state-of-the-art digital platforms to jump-start their direct-to-consumer channel efforts. These new platforms allow for faster speed to market for new products, faster entry into new marketing channels, improved customer experiences and more effective variable cost administration. Self-learning, artificial-intelligence-driven capabilities like virtual servicing agents and robo advisors will be integrated and play a key role in driving the next generation of customer experience.
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