The Digital Insurance Library update

Published: Thu, 08/29/19

The Digital Insurance Library Update

Pádraig Floyd

Digital Insurance Library Editor

padraig.floyd@the-digital-insurer.com

The rise of the machines seems to be a very popular theme at the moment. Luckily, there is plenty of AI, ML and blockchain in this month’s Digital Insurance Library.

A roundtable summary from Tibco looks at how the UK and EMEA markets are responding to the momentum provided by digitalisation.

Meanwhile, Infosys has identified a number of sectors that offer low hanging fruit for businesses that exploit the technology.

The whitepaper from DBD is an encouraging look at how one provider believes their platform is going to revolutionise its sector. When so many speak in ifs and and buts, the confidence is refreshing. We’ll be watching to see how that develops.

The paper from Dassault Systems looks specifically at the use of AI within industrial markets. The focus of this piece is to look beyond simple cost and efficiency drives to the bigger picture. This includes using the tech to improve quality control and to spot maintenance failures before they cause disruption to the manufacturing process.

Another area specific paper from eGain looks beyond the narrative that AI and ML will be a good thing, to its practical application. It identifies six ways AI and ML might be deployed in customer engagement contact centres.

There are two region specific papers. The one from De Nederlandsche Bank (Dutch central bank) offers a high level view of how digitalisation needs to progress if the Dutch insurance market is to evolve.

Another from Hogan Lovells looks at the possibilities for AI, ML and blockchain in North America.

Deloitte’s blockchain survey builds on this and offers insights about the growth of the technology around the world.

Capgemini’s global insurance report takes a broader look at the theme of digitalisation and identifies some worrying trends that also surface in the Deloitte paper.
Despite all the work done to educate the market about the opportunities that exist for InsurTech adopters and the dangers facing those who choose to be left behind, the pace of change is slow.

One of the hardest jobs will be to convince consumers – and regulators – that digitalisation will improve their experience and protect them from the unscrupulous. Yet, at the moment, the industry seems to be having a hard time convincing itself that InsurTech is the right medicine to cure its ills.

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Featured Report

Capgemini & Efma: World Insurance Report 2019

Policyholders are ever more concerned that their insurance cover isn’t enough to protect against emerging risks, such as those posed by cyber attack or climate change, according to The World Insurance Report 2019.

Read review here

DBD: Global Insurance platform whitepaper

Deloitte’s 2019 Global Blockchain survey

DNB: Vision for the future of the Dutch insurance sector

TIBCO: The fourth industrial revolution in insurance

eGain: Six killer applications for AI in contact centres

Dassault Systemes: AI in industrial markets

Hogan Lovell: Insurance Horizons 2019

Infosys: AI & Machine Learning

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