The global insurance industry is at a watershed moment. Insurance leaders have witnessed the growing impact of fintechs – financial technology startups – on traditional banking and heavy investment in insurance technology (insurtechs). They are consequently attempting to identify the best approach to working with these potentially threatening technology innovators.
Adoption of technology solutions like AI, Blockchain, IoT and automation is where insurance companies need to turn to, in pursuit of enhanced customer experience and more efficient business processes. The first of these 3 deal with the creation of additional data that is crucial to businesses making informed decisions. The last one relates to aiding employees with processes followed and with more accurate decision making.
One such example of cognitive automation to deal with IT infrastructure uptime and productivity is the breakthrough partnership story between Apollo Munich Health Insurance (AMHI) and IBM Services. The adoption of innovative and emerging technologies to further show headlights on where the market was going and the need to anticipate changing needs of the business & customers led AMHI to look for a trusted IT partner to help them embark on this journey to being a Cognitive Enterprise. Watch the video below and read the case study.
IBM is going to participate at InsurTech India 2019 at Taj Land’s End, Mumbai on November 19th, 2019. Our sessions will cover a range of topics from Cognitive Insurance, Blockchain and the Digital Transformation of the industry:
11:10am – Anil Khanna participates in a panel discussion on ‘InsureTech: What happens when technology powers the Insurance industry?’
12:15pm – Rachit Batham participates in a panel discussion on ‘Governance and fraud risk management challenges in the insurance industry’
Reach out to our experts if you are attending the event in person. If not, feel free to write in to us with your queries on the industry or the technologies (or both!) and we’ll be happy to set you up some time with one of our experts!
Author: Sudeep Das, Technology Sales, IBM Global Markets Prime Bank, one of the largest commercial banks in Bangladesh, recently completed 25 years of existence. Over these years, it has kept pace with change and is now best known for its new initiatives of Digital Banking services. In fact, Bank is now in full swing on […]