2nd International Seminar by National Insurance Academy, and Swiss Re
DIGITAL DISRUPTION: EMBRACING DIGITAL INNOVATION IN (RE) INSURANCE BUSINESS
In the era of Digital revolution, increasing number of new and emerging technologies – Telematics, Internet of Things (IoT), Block-chain, digital platforms and Artificial Intelligence, set to revolutionize the financial services and Insurance Industry. The rise in accessible data, increased computing capabilities and changing customer expectations has led to a strong acceleration of AI development driving the Industry 4.0. While Artificial Intelligence is transforming the organizations across all Industries, Insurance Industry is also now embracing this technological innovation in a big way. These breakthrough technologies are reshaping the insurance industry by providing innovative ways to measure, control and price new and emerging risks; engage with customers, reduce cost, improve efficiency, expand insurability and create new product and business models.
With increasing technological integration, the dependency on these new and emerging technologies has been growing and the Cyber Risk exposure is also rising. Envisaging the emerging digital disruption, all the key stakeholders of the insurance industry – Regulators, Insurers, Reinsurers, Risk Managers, and Brokers, etc, need to realign, innovate and develop appropriate business solutions.
Realizing the above challenges, National Insurance Academy in collaboration with Swiss Re is happy to organize this International Seminar on the above theme.
SESSION-I EMERGING TECHNOLOGICAL TRENDS AND IMPLICATIONS ON (RE)INSURANCE BUSINESS
- Applications of Block Chain Technology in Insurance Business
- Use of Internet of Things (IoT), Digital Platforms, RPA and Telematics for better Underwriting and Claims settlement.
- Aligning with changing market place, customers and society of tomorrow.
- Changing Regulations (Sandbox) fostering technological innovation.
SESSION-II BIG DATA AND ARITIFICAL INTELLIGENCE DRIVING THE DIGITAL REVOLUTION IN (RE)INSURANCE
- Applications of AI - Machine Learning tools in (Re)Insurance Business
- Impact of Deep Learning – NLP, Pixel Mapping & Virtual/Augmented Reality for better underwriting, Risk Management and Claims Settlement.
- Use of GIS enabled technologies to mitigate Catastrophe Risks
SESSION-III EMBRACING THE DIGITAL INNOVATION IN (RE)INSURANCE BUSINESS (PANEL DISCUSSION)
- Digital Innovation foster development of new age products
- Enhancing Insurance Value chain –Intelligent underwriting to Faster claims settlement.
- Enhancing engagement with customers - Deploying high value-add AI models to provide customers with valuable risk insights
- Collaborating with AI partners - Building an effective and agile data ecosystem to support AI analytics application across the organization
SESSION-IV CYBER RISK AND CYBER SECURITY THREATS – NEED TO DEVELOP COMPREHENSIVE CYBER INSURANCE SOULUTIONS;
- Cyber Risk Threats and Challenges for Financial Sector
- Cyber Laws and Regulations including GDPR and Personal Data Protection
- Cyber Security Concerns and Risk Recovery Measures
- Cyber Risk Insurance/Reinsurance –Risk Mitigation Measures