Sandip Patel

Digital transformation in the insurance industry: Part 1 – Data is the new natural resource

Today, with the help of sensors, drones and mobile devices, we are are generating unprecedented amounts of data that create both opportunities and pitfalls for the insurance industry. As data continues to become more ubiquitous and grow exponentially, insurers must establish a sustained capability to effectively use this data to remain competitive. Whilst companies have […]

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IBM and MetLife partner for a groundbreaking IBM Insurance Platform

From the introduction of the mainframe, to pioneering efforts in artificial intelligence, IBM has consistently developed technologies that are relevant to the insurance industry. Today, we announce another milestone for the insurance industry — the IBM Insurance Platform with initial focus on end-to-end core processing for group benefits and to be offered “as a Service” on the […]

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Industry 4.0 and Risk – Part 2

Last week, I described the interconnected world of Industry 4.0 and the risks it presents: cyber risks, business interruption risks, reputation risks, macro environment risks and skill/talent risks. What are companies already doing to mitigate these risks, and where and how do insurers come in? Point solutions in risk mitigation Just as the mentioned risks […]

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Industry 4.0 and Risk – Part 1

We live in an age of unprecedented interconnectedness. As consumers, we are seeing and benefiting from this every day, whether it is gathering information on the most esoteric of topics, online shopping at one o’clock in the morning, or communicating instantly with friends or colleagues all over the world. But interconnectness is also changing the […]

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