{"id":27765,"date":"2024-01-09T09:54:42","date_gmt":"2024-01-09T08:54:42","guid":{"rendered":"https:\/\/stage-fp.webenv.pl\/blog\/?p=27765"},"modified":"2024-06-11T15:45:47","modified_gmt":"2024-06-11T13:45:47","slug":"5-key-insights-from-the-digital-transformation-in-insurance-press-roundtable","status":"publish","type":"post","link":"https:\/\/www.future-processing.com\/blog\/5-key-insights-from-the-digital-transformation-in-insurance-press-roundtable\/","title":{"rendered":"5 key insights from the Digital Transformation in Insurance Press Roundtable"},"content":{"rendered":"\n

Recognising this need, Future Processing hosted a Press Roundtable on Digital Transformation and Culture Shift in the Insurance Industry<\/a> on November 7th. This online gathering brought together industry experts,<\/strong> including Mike Gilpin<\/a>, Director of Augmented Business Ltd, Lauren Stables<\/a>, Head of Operations at Aurora Insurance, Evangelos Avramakis<\/a>, Head of Digital Ecosystem R&D at Swiss Re, and Dawid G\u0142awdzin<\/a>, Director of Partnership Development at Future Processing.<\/p>\n\n\n\n

Moderated by Saxon East<\/a>, the roundtable explored the challenges and opportunities of aligning digital strategies with cultural change within insurance organisations.<\/strong> The participants shared their insights into how insurers can foster a culture of innovation, embrace digital technologies, and adapt to the evolving insurance industry landscape.<\/p>\n\n\n\n

From the thought-provoking discussion, here are 5 key takeaways:<\/strong><\/p>\n\n\n\n

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  1. Revolutionising the customer experience through digitalisation<\/li>\n\n\n\n
  2. Enhancing service delivery and cost reduction through digital tools<\/li>\n\n\n\n
  3. The pinnacle of digitalisation: innovating with AI<\/li>\n\n\n\n
  4. Mitigating risks in novel service development<\/li>\n\n\n\n
  5. Insurers’ innovation reputation and navigating change<\/li>\n<\/ol>\n\n\n\n


    Revolutionising the customer experience through digitalisation<\/h2>\n\n\n\n

    Digital’s impact on customer experience was the first question experts discussed. Evangelos Avramakis pointed out that right now the real challenge lies in claims handling, servicing, quotes, and product management.<\/strong> <\/p>\n\n\n\n

    \"\"
    Who is holding back companies’ digital transformation initiatives?<\/em><\/figcaption><\/figure>\n\n\n\n

    As Mike Gilpin emphasised, common platforms can revolutionise data sharing<\/strong> by offering tailored service spectrums that streamline insurance products.<\/p>\n\n\n\n

    Dawid Glawdzin echoed the sentiment, focusing on time-saving efficiencies<\/strong> and the burgeoning trend of customised offerings: \u201cWe’re seeing more and more custom-made offerings on the market, resulting in a custom-made approach\u201d<\/em>, Mr Glawdzin said. <\/p>\n\n\n\n

    Also, Lauren Stables advocated for a modular approach to product development<\/a>:<\/strong> \u201cCustomers seek customised insurance that aligns with their specific needs and is presented clearly and understandably; they desire tailored products and documents.”<\/em> In her opinion, building products in a modular fashion allows customers to purchase insurance tailored precisely to their risk exposure.<\/strong><\/p>\n\n\n\n

    Read more about Digital Transformation:<\/p>\n\n\n\n