Impact of Cloud Technology on Risk and Innovation in Insurance

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Description

The insurance industry, which has often been labeled as a laggard and slow to innovate, is now making a strong push to innovate and execute around emerging business models and digital transformation strategies. The average speed to market for new products can take six months or more, but carriers are realizing that increasing speed to market could be key to improving overall customer satisfaction and retention. Understanding customer expectations and the ability for agile innovation and product development are necessary for carriers to keep up with market changes and customer demands, as well as fending off emerging competitive players.

In order to redefine new processes for faster product adoption, collaboration between product innovation, IT, and operations is essential. But so is the need to incorporate risk assessment and mitigation into the strategic mix. Cloud technologies, such as big data, smart analytics, AI and machine learning, may not only help detect, predict, and prevent risk, but they can also enable insurance companies to generate new revenue sources (e.g. usage based insurance, monetization of data, and up-sell/cross-sell opportunities) and reduce costs (e.g. enhanced risk profiles, proactive safety assessments, and fraud prevention).

During this webinar, attendees will learn how cloud technology can help insurers:

1. Better assess and price product offerings, while detecting and preventing risk across the portfolio
2. Understand the benefits of driving continuous ideation and experimentation in new markets and products
3. Recognize and make significant improvements in the areas of customer satisfaction, operational efficiency, and risk/underwriting prediction and accuracy

Note: All downloads and related contact information will be accessible to the sponsor of this webinar.

Contributors

  • Joe Johnston

    Key Account Director for Insurance, Google Cloud
    Joe Johnston is responsible for helping insurance companies design and implement enterprise-class solutions to accelerate business from a cloud-first perspective. Joe brings more than 30 years of experience in the insurance and capital markets industry, including 25 years at Nationwide Insurance in various technical and business roles.

  • Gary Plotkin

    Principal and Management Consulting Insurance Practice Leader, KPMG
    Gary is a Principal at KPMG and leads KPMG’s Management Consulting Insurance Practice. Gary has 27 years of Financial Services experience specializing in Business and IT transformation work. Gary has split his career between Advisory Services management and the roles of CIO and CTO for large and small Insurance Carriers. He has a strong background across the full life cycle of strategy and project delivery with several $100M+ program management experience including software development, implementations and transformation initiatives. Gary’s past clients include leading entities in the financial services industry.

  • Alex Schmelkin

    Chief Marketing Officer, Unqork
    Alex is an impassioned technology leader and entrepreneur who has been helping companies build and grow their digital businesses since 1994. He joined the founding team at Unqork to take that passion to another level as the company fundamentally changes the economics of software development by helping the world’s largest organizations fulfill their missions without writing a single line of code.

    At Unqork, Alex oversees all marketing and strategic partnerships for the company while also playing a key role in customer experience efforts and the development of Unqork’s product: the only no-code platform designed to support the complexity, scale and security of mission-critical applications. Prior to joining Unqork, Alex was Founder and CEO of Cake & Arrow, an award winning customer experience agency that focuses on the insurance and e-commerce industries.

November 19, 2020
Thu 1:00 PM EST

Duration 1H 0M

This live web event has ended.

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