Driving innovation and transformation in Life insurance

85% of insurance executives are deploying CX initiatives but most are struggling to see the true benefits. Simply adopting technology and analyzing data isn’t enough. A fundamental culture shift and a mindset change to being a tech and data driven organization is the only way we will be able to meet the needs of our current and future customers.

Thought leaders discuss the requirements digital acceleration is placing on Loss Control, The technologies enabling a Next-Gen Approach, and the competitive advantage that can be gained by leveraging the growing Loss Control digital ecosystem.

The Financial Conduct Authority’s proposed introduction of a new Consumer Duty has the potential to shift the balance further in the direction of consumers’ rights, setting new standards for insurers, intermediaries and for the wider financial services industry that will go further than the existing mantra of treating customers fairly. Firms will have to put themselves in their customers’ shoes, with an emphasis on outcomes, in what could amount to a legally enforceable duty of care.

The insurance industry has embraced data analytics to drive business results. Using large warehouses of internal data, augmentation from third-party providers, and big data sources, data analysts are driving product R&D, predictive modeling, and influencing strategy at all levels of the organization. However, many insurers are still dealing with the challenges of diverse core systems with little data integration and limited agreement on what data assets mean. This webinar covers current insurer experience, case studies of successful initiatives, and best practices in developing a data and analytics strategy.