3. What is the most
important data
build for your
company in the
next ten years?
Artificial Intelligence
is the most
important build for
63% of companies.
4. Data analytics and AI driven
decisions are the future.
Head of Portfolio Analytics & Reporting
ABM Systems Future of Insurance Study 2019
5. When will your
job be
replaced by
AI?
31.8% of senior
executives believe
their job will be
replaced by AI in
under 10 years.
6. Skills set need to move to
encompass greater
understanding and use of
predictive analytics and machine
learning. Guess work will be
drastically reduced.Chief Underwriter
ABM Systems Future of Insurance Study 2019
7. What are you
most worried
about being
unprepared for as
a company of the
next ten years?
36% of executives
are worried about
start-ups disrupting
their company.ABM Systems Future of Insurance Study 2019
8. Leveraging data on dynamic
real-time ways
Head of Accelerator, Technology & Innovation Division
ABM Systems Future of Insurance Study 2019
9. The combination of increasing
third party data with increasing
sophistication in analytics will
continue to impact the way we
assess and price risk.
General Manager, CTP
ABM Systems Future of Insurance Study 2019
10. Greater public accountability of
insurance companies. Full public
disclosure of pay out rates,
enforced disclosure of data so
that the public can make fully
informed purchasing decisions.
The exclusion of risks as a
result of Climate Change.
Data Manager
ABM Systems Future of Insurance Study 2019
11. Conversational AI and
Virtual Auto Claims are the
highest industry adoption
but the highest market
strength threat is
commercial data automation
and robotic process
automation.
11
Underwriting & risk
selection
Product design &
distribution
Customer engagement
Claims management &
12. FROM HUNTED TO HUNTER
Organizations are shifting from passivedata
collection to aggressive data collection and
analysis.
13. What is the
majority of your
IT budget
building?
The majority of the IT
budget will be
updating current
systems at 40% of the
companies.
14. I believe that technology will
replace a lot of the
transactional clutter in
insurance, and advice will be
the key piece we can provide
our customers in the future.General Manager, Business & Information Systems
ABM Systems Future of Insurance Study 2019
19. Traditional insurance models will be at
risk of disruption, as insurance
becomes more of a commodity.
Insurance companies need to invest in
exploring alternatives to satisfy
changing customer expectations.
Technology must be a significant part
of this investment, along with different
capability requirements.
Executive Manager, Risk Architecture & Governance
ABM Systems Future of Insurance Study 2019
20. Own the future.
ABM Systems implements Augmented
Intelligence systems by working with
our partners to build a data led
team.
Technology and advice to help you
accelerate your digital transformation.