DSGVO Konformität

So werden Unternehmen in fünf Schritten nachhaltig DSGVO konform:

Data-driven Insurance – AI implementation with strategy

Presentation in TDWI Munich, MOC, on 20th June, 2022

In order to accelerate the introduction of data-driven insurance, the relevant topics must be grouped, prioritized and the responsibilities for them clarified:

This requires a powerful leadership coalition that develops a vision for the introduction of data-driven insurance and artificial intelligence and propagates it throughout the company. Promoters are used to implement the vision and search for suitable AI business cases. The business cases are evaluated, prioritized, and planned in such a way that results are achieved quickly. The credibility achieved with these successes reinvigorates the transformation. This can attract new people to consolidate the improvements and institutionalize the new approaches. The presentation will address best practices and pitfalls.

https://www.tdwi-konferenz.de/tdwi-2022/programm/konferenzprogramm#item-3981

Go to the audio track of presentation (extract).

Data-driven Insurance

Data-driven insurance stands for the strategic use of disruptive AI algorithms to analyze new data. As a result, sustainable competitive advantages are created through process, product and service innovations, with the influence of AI being a key driver in the competition between insurance ecosystems. This is because AI and its associated technologies are having a disruptive impact on all processes in the insurance value chain, from sales to underwriting and from pricing to claims. They are also transforming insurance products and services by supporting or even enabling usage-based, micro, short-term, and integrated insurance. For the adoption of data-driven insurance to gain momentum, it will require a strong leadership coalition at the highest levels. This will ensure the strategic use of new data, the scaled implementation of advanced AI algorithms, and the planned transformation of the insurance business.

In terms of strategy, there are some best practices to consider when implementing data-driven insurance. For more information on the broad adoption of AI to support DDI, read my whitepaper (German).

End-to-end Insurance Platform Covers Entire Insurance Lifecycle

Insurance Business Applications (IBA) Named an InsurTech 100 Company for 2021

IBSuite facilitates the full lifecycle of insurance, from quote to bind as well as end-2-end policy administration, efficient claims handling and billing – allowing customers to run a full-fledged insurance business…

Prototyping the Insurance Customer Journey Using AI

(c) K16, 2000

Internet-based lead management in insurance has always been a big challenge. The small clickable prototype shows the remaining principle how to do it. After having
identified the customer using cookies or authentication, she is asked what is going on in his life, e.g. a move. Today, this can be done by an AI-based chat robot. As a response, the computer can provide a form to the customer that allows him to enter his new address. After that, the chat bot can ask the customer for the reason of the move. It is imaginable that text analytics and artificial intelligence can generate a labeled form on the fly and continue an interaction depending on the customer satisfaction with the goal to deliver add value service and generate leads. See also my storyboard.