Knowing which AI really matters is key to making profound transformations in any industry including insurance and reinsurance. It is the key that opens the door to making and carrying out decisions that will result in long-lasting benefits to every person.
Please check out these organizations that have been delivering tremendous benefits to all parties in the insurance, reinsurance, and financial services industries for decades:
Insurance industry standards have provided significant benefits to all parties involved in the insurance and reinsurance ecosystem. Leveraging AI in the formulation and implementation of insurance industry standards is crucial in today’s AI and Digital Technologies world and economy.
Please check out these organizations that have been delivering tremendous benefits to all parties in the insurance, reinsurance, and financial services industries for decades:
There is a need to create a New Education Ecosystem that is powered by Digital Technologies and AI yet still delivered by human, nurturing and caring teachers and professors. This is crucial for any country to succeed in the Digital World and Economy.
There are several requirements that must be met in order to eliminate human-caused wildfires in addition to leveraging digital technologies and AI. A high-level diagram from a study conducted by SoundStep Consulting Services is provided in this document.
There is a critical need for technology-based solutions to address the causes of wildfires – especially those that are caused by human beings. Today’s digital and AI technologies are powerful enough to create technology-based solutions that focus on wildfire prevention.
Please check out these innovative companies that are leveraging AI and Digital Technologies to prevent human-caused wildfires.
The Video Gaming Industry creates an extraordinary pool of talented, creative and highly-innovative individuals of all ages. It is remains a relatively untapped source of people and teams that can be leveraged across all industries.
There’s a need for every student to gain hands-on, practical experience in using Digital Technologies and AI as early as possible in order to create and sustain a digitally-adept future workforce.
Computer Programming must be made into a mandatory core requirement to obtain a high school diploma. It is the key to advanced education and career opportunities in any industry since all industries utilize digital technologies and AI.
Both incumbent and new Solution Providers in the insurance industry have significant opportunities to transform how they form strategic partnerships and alliances. Doing so will bring tremendous benefits to insurers, reinsurers, to the insurance industry, and most of all to policyholders and cedants.
Adopting an ecosystem mindset and launching a Strategic Partnerships and Alliances Transformation program are crucial to the success of insurers and reinsurers as new players, both from outside and within the insurance industry, emerge with truly transformative and differentiating products and services.
Underwriting and actuarial services lie at the heart of every insurance/reinsurance company and launching a digital technology transformation program that’s 100% focused on strengthening underwriting capabilities is long overdue. Typically <5% of a transformation program investment is spent on underwriting services.
The traditional insurance value chain is no longer suitable in an era that is defined by customer-centricity, and the opportunistic application of digital technologies in all aspects of life and business. Insurers and reinsurers will need to adjust to a new value chain to ensure their continuing success in the Digital/AI world.