Vikas Chhariya’s Post

🧠 Trends for 2024 in the insurance industry: GenAI and beyond 🧠 🧑💻 GenAI opens up great opportunities for insurance companies to generate value. Likewise, it is also becoming a key driver of their digital transformation. The rapidly evolving technology can be used to automate and speed up insurance processes and significantly improve the customer experience. From a financial perspective, insurers benefit from GenAI’s ability to more accurately assess risks. The adesso SE team has identified six core topics for 2024 where it sees the greatest potential for insurance companies, largely driven by innovation and projects involving GenAI, including: 1️⃣ Data-driven insurance 2️⃣ Customer-centric insurance 3️⃣ Automation and transformation 4️⃣ New work and agile insurance 5️⃣ Digital health and wealth 6️⃣ Green insurance Find the full article at adesso.de 👉 https://lnkd.in/dupVJZaW #GenAI #Insurance #LondonMarkets #InsuranceNews #InsuranceTrends 

Agree Xavier Marcillac! Embedded insurance is set to become the ‘Netflix’ of coverage—always on, instantly accessible, and seamlessly integrated right where you need it. Just as streaming transformed how we enjoy movies by removing barriers, embedded insurance brings protection directly into our daily lives, making coverage as easy as a click or a tap. It’s about removing friction and delivering the right insurance precisely at the moment it’s relevant. Imagine a world where insurance is embedded into every experience, from buying a car to booking a trip, effortlessly closing the protection gap. The future of insurance is on-demand, personalized, and right at our fingertips! Kudos to Alan Demers, CPCU, AIC and Stephen Applebaum, the authors of the excellent article on Embedded Insurance.

#embedded insurance is relentlessly gaining traction. Since early days a well-executed #embeddedinsurance operation has "offered a way to reach new customer segments and expand insurance coverage by embedding insurance products into popular platforms or products with large user bases." The direct integration of insurance products into financial, auto, mobility, software, property, retailer, entertainment (and more) services becomes "increasingly common, offering enhanced convenience, personalized coverage, and revenue opportunities for all stakeholders." The call to action is clear: "Whether you are an insurer, insurtech, agent, broker, MGA, retailer, wholesaler, or anywhere else in the insurance ecosystem and supply chain, you must invest now in learning how your business can participate in the embedded economy of the future." This is in #weecover DNA. We have the technology and expertise to make embedded insurance a reality, across #ecosystems and geographies. https://lnkd.in/dgS_dMSp

🔥 Insights from Conversations with Vietnam's Top 10 Insurance Giants: What Did I Discover?🌟 In my discussions with Vietnam's top 10 life insurance companies, I uncovered significant disparities in operational processes, particularly from sales to pre-issuance stages. One solution partner needs to possess a lot of capabilities: 👂🏻 Listening and Understanding: 🧠 Our ability to listen and comprehend the unique challenges of each insurance company allows us to recommend suitable tech components tailored to a clear roadmap, ensuring seamless progression from initial steps to future enhancements. 🔝 Robust Scalable Technology Platform: We take pride in owning a cutting-edge technology platform renowned for its accuracy and superior performance, validated across various demanding global markets. ✂ Customization Expertise Based on Industry Know-How: With extensive experience in customizing solutions based on the intricacies of the insurance sector, we can advise and design workflows that perfectly align with your requirements. 🥇 Proven Deployment Experience: With a rich history of deploying solutions for diverse clients with varying business sizes and complexities, we empower technology providers to anticipate and advise clients on risks and risk mitigation strategies. This is particularly crucial given the unique business models prevalent in the insurance industry, such as month-end sales pushes and the complexities of sales force behaviors. 🤘🏻 And luckily, we have all the necessary qualifications mentioned above 🤗 We are committed to listening, advising, and delivering services that are tailor-made to the specific requirements of each insurance company's sales process. 🔥 Our commitment to meeting every timeline milestone with tech components boasting superior performance compared to market competitors stems from optimized workflows derived from deployment experiences across nearly 20 countries worldwide, serving over 1000 leading global enterprises. Our focus remains unwaveringly on enhancing customer experience and driving business success. Partner with Perfios for a transformative journey that prioritizes your unique business needs and propels you towards unparalleled success. Amitabh Singh अमिताभ सिंघ Mahendra RamaiyahHermawan AzkaMr. Nelson AmoiMichelle WongPragya ShuklaSharvari Nadkarni #InsuranceInnovation #TechSolutions #TailoredExcellence 🌟

Gen Re and CME Strive To Fully Digitize Life Insurance Onboarding This advanced tool conducts a thorough analysis of an applicant’s health, lifestyle, and occupation, integrating cutting-edge Insurtech tools, including AI, to generate rapid health insights, and PPG technology with advanced algorithms for analyzing vital signs and remote health parameters. By adopting such an inclusive, tech-forward approach, insurers can ensure precise risk profiling and, subsequently, tailor policy premiums more effectively. https://lnkd.in/ecMtn3Vt #fintech #finance #banking #paytech #payments #fintechnews #paymentsnews

Revolutionize Insurance Product Innovation and Distribution with B4E Insurtech | Insurance Infrastructure-as-a-Service No-Code Platform (FREE for the First 10 Partnerships!) Insurance Leaders, are you ready to: > Launch simple, pre-underwritten insurance products in minutes? > Reach new customers through an engaging digital experience? > Boost efficiency and reduce operational costs? B4E Insurtech is your key to unlocking these possibilities! We offer a unique solution that empowers reinsurers, insurers, MGAs, and intermediaries to: > Offer pre-configured insurance products across various lines of business. > Streamline underwriting with our pre-defined risk assessment rules. > Deliver a seamless digital journey for your customers, from quote to policy issuance. But that's not all! For a limited time, the first 10 partners to join B4E Insurtech will receive FREE access to our revolutionary No-Code Digital Platform! This intuitive platform allows you to: > Effortlessly configure and launch new products without any coding expertise in under 30 minutes. > Manage your entire distribution network from a single, centralized location. > Gain valuable data insights to optimize your offerings and target new markets. Don't miss this incredible opportunity to transform your insurance business! Contact us today at demo@b4einsurtech.com to schedule a demo and secure your FREE access to our No-Code Platform! #InsurTech #DigitalInsurance #PreUnderwritten #NoCodePlatform #Partnership #b4einsurtech, #insurtech, #insurance, #ai, #ml, #machinelearning, #artificialintelligence, #fintech, #technology, #innovation, #digitaltransformation, #dataanalytics, #bigdata, #insurancedata, #insurancetech, #insuranceindustry, #insuranceinnovation, #reinsurance, #insurancebroker, #insuranceagent, #insurancesolutions, #insuretech, #insuretechsolutions, #insurancetechnology, #insurancemarketing, #insuranceservices, #insurancelife, #insurancetrends, #insurancenews, #insurancerisk, #insurancesoftware, #insuranceteam, #insurancesolutions, #insurancelifestyle, #insurancemanagement, #insurancematters, #insurancefuture, #insurancemarket, #insurancetechnews, #aiinsurance, #mlinsurance, #insurancedigital, #digitalinsurance, #insurancedisruption, #insurtechnews, #insurtechstartup, #insurtechcompany, #insurtechrevolution, #insurtechsolution, #insurtechworld, #insurtechcommunity

How about risk-free innovation? Innovation in insurance, whether it's about re-inventing processes, developing new IT solutions, or shifting from the usual, often appears full of risk. What if the results fall short, users resist, or costs spiral out of control? I understand these concerns. Why expose yourself and your company to risk when your current processes seem sufficient? But how much better could they work? What increased value, insights and cost reduction could you gain? How can you know if you don’t explore new ways of working? I believe the status quo isn't sufficient for a changing industry as important as ours. That's why we've introduced risk-free trials for Mavera DSS, designed to limit time and cost commitments to a minimum. It's as simple as this: • Together, we define clear KPIs for a specific timeframe • After a quick onboarding, you'll dive into the capabilities of Mavera DSS • Our customer success team supports you throughout • We'll assess the results together If you're not satisfied, there's no obligation to proceed. You’ll return to your previous processes, now enriched with new insights. Yet, in 90% of cases, insurers experience substantial process improvements, efficiency gains and new business insights. Then they opt to continue with us. The ability to mitigate the risks of innovation is just one reason I believe Insurtech is essential for driving progress in the traditional insurance sector.

Revolutionize Insurance Product Innovation and Distribution with B4E Insurtech | Insurance Infrastructure-as-a-Service No-Code Platform (FREE for the First 10 Partnerships!) Insurance Leaders, are you ready to: > Launch simple, pre-underwritten insurance products in minutes? > Reach new customers through an engaging digital experience? > Boost efficiency and reduce operational costs? B4E Insurtech is your key to unlocking these possibilities! We offer a unique solution that empowers reinsurers, insurers, MGAs, and intermediaries to: > Offer pre-configured insurance products across various lines of business. > Streamline underwriting with our pre-defined risk assessment rules. > Deliver a seamless digital journey for your customers, from quote to policy issuance. But that's not all! For a limited time, the first 10 partners to join B4E Insurtech will receive FREE access to our revolutionary No-Code Digital Platform! This intuitive platform allows you to: > Effortlessly configure and launch new products without any coding expertise in under 30 minutes. > Manage your entire distribution network from a single, centralized location. > Gain valuable data insights to optimize your offerings and target new markets. Don't miss this incredible opportunity to transform your insurance business! Contact us today at demo@b4einsurtech.com to schedule a demo and secure your FREE access to our No-Code Platform! #InsurTech #DigitalInsurance #PreUnderwritten #NoCodePlatform #Partnership #b4einsurtech, #insurtech, #insurance, #ai, #ml, #machinelearning, #artificialintelligence, #fintech, #technology, #innovation, #digitaltransformation, #dataanalytics, #bigdata, #insurancedata, #insurancetech, #insuranceindustry, #insuranceinnovation, #reinsurance, #insurancebroker, #insuranceagent, #insurancesolutions, #insuretech, #insuretechsolutions, #insurancetechnology, #insurancemarketing, #insuranceservices, #insurancelife, #insurancetrends, #insurancenews, #insurancerisk, #insurancesoftware, #insuranceteam, #insurancesolutions, #insurancelifestyle, #insurancemanagement, #insurancematters, #insurancefuture, #insurancemarket, #insurancetechnews, #aiinsurance, #mlinsurance, #insurancedigital, #digitalinsurance, #insurancedisruption, #insurtechnews, #insurtechstartup, #insurtechcompany, #insurtechrevolution, #insurtechsolution, #insurtechworld, #insurtechcommunity Dhofar Insurance Company S.A.O.G. National Life & General Insurance Company SAOG AL Wataniya Insurance Company Emirates Insurance Company Al Ahlia Insurance Company B.S.C. AXA AIGTata AIA Life InsuranceGeneraliCigna Healthcare Niva Bupa Health Insurance Starhealth Insurance SBI Life Insurance Co. Ltd. Star Union Dai-ichi Life Insurance Company Limited IndiaFirst Life Dai-ichi Life Vietnam MetLife MetLife Gulf Abu Dhabi National Insurance Company PJSC Al Hilal Life Solidarity First Insurance Tawuniya Insurance Zurich Insurance Zurich Canada Marsh Canada Limited Canada Life Equitable Aviva Canada HSB Canada

Insurance and innovation have to be mastered BOTH, to create measurable value for an insurer. This post by Matteo Carbone, with several references to a paper by my former colleagues at Boston Consulting Group (BCG) and further readings, caught my eye today. This in particular because I followed a discussion on the above topic last week on innovation departments. One person pointed out (and many traditional innovation managers may disagree harshly): "Innovation in insurance serves no purpose of its own. It has to solve specific problems in a measurable way. If not, then we talk about the R in R&D. Fair, but then organize and budget it as research. Or, if we talk "mindset and culture", then the innovation endeavours were to be seen as part of a change management program. Also fair, but then expect just this from it. The focus, however, might want to be more on the insurer organization than random external service providers in their infant stages, though. I must admit, while I have certain sympathy for this perspective, these statements have made me think more over the weekend. What do you think? Possibly, this is one of the reasons why startup expeditions like they used to be etc are on the decline - if you look for solutions (e.g cool startups) and later formulate a matching demand, you will burn money. #insurance #insurtech #innovation #purpose #requirements #discussion

✅ 𝗗𝗶𝗴𝗶𝘁𝗮𝗹 𝗜𝗻𝘀𝘂𝗿𝗮𝗻𝗰𝗲 𝗔𝗣𝗔𝗖 𝟮𝟬𝟮𝟰 𝗦𝗽𝗲𝗮𝗸𝗲𝗿 𝗔𝗻𝗻𝗼𝘂𝗻𝗰𝗲𝗺𝗲𝗻𝘁 📣 𝗠𝗿. 𝗔𝘀𝗵𝘂𝘁𝗼𝘀𝗵 𝗕𝗵𝘂𝘁𝗸𝗮𝗿, 𝗜𝗻𝘀𝘂𝗿𝗮𝗻𝗰𝗲 𝗠𝗮𝗿𝗸𝗲𝘁 𝗟𝗲𝗮𝗱𝗲𝗿, 𝗚𝗹𝗼𝗯𝗮𝗹 𝗔𝗹𝗹𝗶𝗮𝗻𝗰𝗲𝘀 𝗮𝗻𝗱 𝗖𝗵𝗮𝗻𝗻𝗲𝗹𝘀, 𝗡𝗲𝘂𝘁𝗿𝗶𝗻𝗼𝘀 We are so honored to have Mr. Ashutosh Bhutkar, Insurance Market Leader, Global Alliances and Channels, Neutrinos to be our distinguished speaker at Digital Insurance 𝗔𝗣𝗔𝗖 𝟮𝟬𝟮𝟰 (June 26-27th, HK), which is a top global event for insurers to transform. 𝗦͟𝗽͟𝗲͟𝗮͟𝗸͟𝗲͟𝗿͟ ͟𝗣͟𝗿͟𝗼͟𝗳͟𝗶͟𝗹͟𝗲͟ Ashutosh is an accomplished insurance leader with over 18 years of experience in the BFSI industry. He holds an MBA in marketing and has a deep domain knowledge of the insurance sector. He is currently the Insurance Market Leader, Global Alliances and Channels at Neutrinos, a top-rated low-code no-code platform that enables rapid and scalable digital solutions. At Neutrinos, he partners with leading insurance companies and helps them achieve their digital ambitions by using innovative strategies, efficient execution, and evolving programs. He focuses on optimizing customer experience, enabling business growth, and driving engagement through insurtech and fintech solutions. He has successfully delivered multiple projects that have enhanced the operational efficiency, revenue generation, and customer satisfaction of his clients. He is passionate about leveraging technology to create value for the insurance industry and its stakeholders. 𝗠͟𝗿͟.͟ ͟𝗔͟𝘀͟𝗵͟𝘂͟𝘁͟𝗼͟𝘀͟𝗵͟ ͟𝗕͟𝗵͟𝘂͟𝘁͟𝗸͟𝗮͟𝗿͟ ͟𝗮͟͟͟͟͟͟͟𝘁͟͟͟ ͟͟͟𝗗͟͟͟𝗶͟͟͟𝗴͟͟͟𝗶͟͟͟𝘁͟͟͟𝗮͟͟͟𝗹͟͟͟ ͟͟͟𝗜͟͟͟𝗻͟͟͟𝘀͟͟͟𝘂͟͟͟𝗿͟͟͟𝗮͟͟͟𝗻͟͟͟𝗰͟͟͟𝗲͟͟͟ ͟͟͟𝗔͟͟͟𝗣͟͟͟𝗔͟͟͟𝗖͟͟͟ ͟͟͟𝟮͟͟͟𝟬͟͟͟𝟮͟͟͟𝟰͟͟͟ 𝗗𝗲𝗺𝗼: 𝗘𝗻𝗵𝗮𝗻𝗰𝗶𝗻𝗴 𝗨𝗻𝗱𝗲𝗿𝘄𝗿𝗶𝘁𝗶𝗻𝗴 𝗣𝗿𝗼𝗰𝗲𝘀𝘀𝗲𝘀 𝗧𝗵𝗿𝗼𝘂𝗴𝗵 𝗖𝘂𝘀𝘁𝗼𝗺𝗲𝗿-𝗖𝗲𝗻𝘁𝗿𝗶𝗰 𝗜𝗻𝗻𝗼𝘃𝗮𝘁𝗶𝗼𝗻𝘀 Let us eagerly anticipate the most valuable and cutting-edge insights that will be shared. 𝗧𝗮𝗸𝗲 𝗮 𝗹𝗼𝗼𝗸 𝗮𝘁 𝘁𝗵𝗲 𝟭𝟱𝟬+ 𝗖𝗼𝗻𝗳𝗶𝗿𝗺𝗲𝗱 𝗔𝗱𝘃𝗶𝘀𝗼𝗿𝘀 𝗮𝗻𝗱 𝗦𝗽𝗲𝗮𝗸𝗲𝗿𝘀 𝗹𝗶𝗻𝗲-𝘂𝗽 https://lnkd.in/g7RWj7Sb 🎫𝗗𝗶𝗴𝗶𝘁𝗮𝗹 𝗜𝗻𝘀𝘂𝗿𝗮𝗻𝗰𝗲 𝗔𝗣𝗔𝗖 𝟮𝟬𝟮𝟰 📍 Venue: Hotel Alexandra Hong Kong 📅 Time: June 26-27th 📝 𝗥𝗲𝗴𝗶𝘀𝘁𝗲𝗿: https://lnkd.in/gEAtXVE4 💡 Website: https://lnkd.in/gAfP4YRM #digitalinsuranceapac #digitalinsurane #APAC #insurtech #insurer #transformation #topevent #insurance #event #HK #digital #data #AI #analytic #bigdata #Artificial #Intelligence