Creating Value with AI: Personalized Insurance Services for a quality Customer Experience

By Insurance CIO Outlook | Wednesday, January 30, 2019

New technological innovations and business models are disrupting the insurance industry, and new products, services, and strategies are being stimulated, as well as increasing IoT and digital transformation and customers’ engagement. Insurers need to take advantage of digital transformation opportunities. For the modern, connected, and smart consumer, customer service is unquestionably an essential factor. The primary difference between the legacy carriers and the new generation of agile digital-born insurgents lies in giving the customers an omnichannel experience. While many legacy carriers carried out a number of pilot efforts to improve their customer experience in 2018, it is now essential for others to act in the provision of interactive and personalized products, communications, and experience.

Insurance Nexus, located in the Silicon Roundabout in London, is the innovative heart of a disruptive and innovative business. The company is considered to be the central hub for the insurance managers. The team offers a platform for the industry to network, discuss, learn, and shape the future of the insurance industry through in-depth analysis of the industry, targeted research, niche events, and quality content.

According to the 2019 Insurance Nexus survey, insurance managers believe that the biggest effect of AI implementation will be customer experience. Although there are numerous obstacles for companies to leverage AI effectively, its potential to retain customers and attract newer consumers is evident.

On the 30th of January 2019, 10 am CDT, Insurance Nexus will conduct a webinar on the subject: “Create Customer Value with AI+Innovation: Personalize Insurance to Win Customers' Hearts.” The Moderator Stephen Applebaum will be joined by Thomas Sheffield, QBE Senior Vice President and Head of Specialty Claims, Nicolette DeGuia, Allstate Head of Consumer Innovation and Design, Allstate Digital Ventures, and Bilal Parvizto, Vice President of Product Development, Arch Mortgage Insurance Company. The webinar will have discussions on exploring the strategies and approaches carriers are successfully deploying to create AI-driven, relevant, and valuable customer experiences.

This webinar will offer insights into the creation of excellent client experiences throughout the clients’ life cycle, including, 'from low-touch to automated underwriting,' 'Achieve Customer-Ruled Claims,' and 'Completely Understand Your Customer.' Furthermore, the session will explore strategies to simplify the risk questionnaires and improve the onboard process to improve customer experience without sacrificing insight quality, how analytics enables the customer to take ownership of digital technologies, transparent communication, and intuitive CX, and how data and analytics can focus customers on interactive, tailored and on-demand products.

In combination with the next sixth annual Insurance AI and Analytics USA Summit, this webinar is being run by Insurance Nexus. The conference will take place on the 2nd and 3rd of May 2019 at the Renaissance Chicago Downtown Hotel in Chicago, Illinois, and will welcome more than 450 senior insurance managers from analytics and business teams.

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