Combating Inertia and Cutting Through the Noise
April 11, 2019, 8:00AM - 4:00PM, EST
New York City, NY
KPMG was pleased to be a sponsor of the Financial Times Insurance Innovation Summit on April 11, 2019 in New York City. More than 200+ C-suite, decision makers and senior executives from the insurance industry attended the conference, where they focused on best practices and case studies about proactively exploring emerging technologies, rethinking organizational structures and internal processes, and developing new capabilities.
Delivering the conference keynote address, “Separating the signal from the noise,” Gary Plotkin, Principal & Management Consulting Insurance Leader, KPMG, shared his perspective on why it’s critical for insurers to gain a better understanding of the signals that data emit.
About KPMG Insurance Practice:
KPMG recognizes that insurers are rethinking the way they conduct business. Volatile markets, disruptive technologies, laser focus on the customer, and new regulations and compliance issues have brought the financial services companies to a crossroad.
KPMG’s Insurance professionals know how to transform today’s uncertainty into opportunity for our clients. We view our insurance clients’ current challenges as possible breakthroughs that can transform their operations and create a sustainable advantage. We work with leading insurers to help them redirect these changes – with the goal of creating answers to their most pressing business questions.
Operational excellence in insurance: Performance, digital and customer experience
In order to understand where on their transformational journey insurance companies currently are and where they are heading in the next 12 to 24 months, KPMG International and ACORD, a non-profit standards development organization, launched a short survey on operational efficiencies. Overall, survey responses make clear that the majority of these organizations are falling behind in their quest to improve operational efficiency, and that a lack of process standardization and strategic vision is the primary obstacle to future transformation efforts.
Insurtech 10: Trends in 2019
This joint research paper by KPMG and The Digital Insurer examines the macro trends that are influencing the adoption and implementation of insurtech in the insurance market as a whole. We examine 10 trends affecting the insurance industry and make a number of predictions as to how the current and emerging trends within insurtech will shape the changing face of insurance companies across the world over the next one to two years.
On the 2019 Insurance Board Agenda
Insurers’ board and audit committee agendas must continue to evolve in 2019 amid the game-changing implications of escalating customer demands, ongoing technology innovation, and new developments in the nature and types of risk. On the 2019 Insurance Board Agenda highlights six items for insurance boards and committees to consider going forward. Fundamentally, board members, in the oversight roles, must have confidence that senior management can maintain the balance of near-term focus and agility with long-term planning and execution. Drawing on insights from our ongoing interactions with insurance directors and insurance industry leaders, we’ve highlighted six items for insurance boards and audit committees to consider going forward.
How May AI Assist You?
One of the most visible applications of AI are “conversational agents”—chatbots and intelligent assistants that interact with people via voice or text channels, on devices such as smartphones, automotive infotainment consoles, and smart speakers. Having conversations with AI is becoming routine for consumers— and soon it will be for employees, too. In the workplace, conversational agents can help workers interact more seamlessly with each other, streamline office operations, execute internal process, and deliver data more efficiently.
With recent advances in data analytics, artificial intelligence, and robotic process automation, companies can supercharge their customer service capabilities, making customer service faster, more responsive and personal, and more broadly available. In this article we discuss a three-step process that organizations can do to become a leader in customer service.