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Confidential – © 2017 Equinix Inc. Equinix.com 1
Digital Transformation in Insurance
Are you ready for change?
James Maudslay, FCII – Global Head, Insurance
EMEA Vertical Marketing
Wednesday 19th July 2017
Confidential – © 2017 Equinix Inc. Equinix.com 2
Agenda for Today
Time Topic Speaker
07:30 – 07:40 Equinix and our role in the global
insurance market
James Maudslay FCII, Global Head
Insurance, Equinix
07:40-07:50 Digital Transformation in Insurers Tom Maleczek, Chief Technology Officer,
Charles Taylor InsureTech
07:50-08:00 Oasis Success Story – Catastrophic
Modelling as a Shared Service
Dickie Whitaker, CEO,
Oasis Loss Modelling Framework
08:00-08:25 Panel Debate – Digital Transformation in
Insurance
Moderator:
James Maudslay FCII, Global Head Insurance,
Equinix
Panelists:
 Philip Brittain – Account Executive, Financial
Services, Equinix
 Dave Dias – Chairman – Insurance Thought
Leadership & The Innovator’s Edge
 David Piesse – IIS Ambassador (Asia
Pacific) and Member of the Advisory Board –
Guardtime Ltd
Confidential – © 2017 Equinix Inc. Equinix.com 3
Insurance & Interconnection
Confidential – © 2017 Equinix Inc. Equinix.com 4
Data standards
powered by Acord
Why do insurers need to Interconnect?
CUSTOMERS
ACCESS
ROUTES
MACHINE-2-
MACHINE
COUNTER-
PARTIES
Agents Brokers
Clients
Face-2-Face Internet
Machine-2-Machine
Mobile Snail Mail
INTERNAL PROCESSES
SERVICE PROVIDERS
Automated U/W CRM
Expert Systems / AI
Rating Engine
Policy Admin
Self-service Claims
Accounts Actuaries
Adjusters
IT Service
Providers
Engineers
Lawyers
INTERCONNECTED
OMNICHANNEL
INSURER
Blockchain
Telematics
IoT
Wearables
Brokers Co-Insurers
Reinsurers
Managing General
Agents (MGAs)
Any type
of client
Access as
decided by
client
Direct
machine
data
input
Electronic
links to trading
partners
DATA
REPOSITORY
REGULATORS
Partners
Telephone
Aggregators
FinTech
Payment Gateways
Security Services
MGA’s
ANALYTICS
Personal
ANALYTICS
Catastrophe
Capital
Personal
Catastrophe
Capital
Digital
Edge
Digital
Edge
Confidential – © 2017 Equinix Inc. Equinix.com 5
Equinix Interconnection Platform – Global Reach
<10ms to 90% of the population of North America, Western Europe, Top Markets in Asia-Pacific and Brazil
175+ Data Centers
44 markets
22 countries
>99.9999% uptime
9,500+ Customers
170+ Fortune 500
2,500+ Cloud and
IT Service Providers
1,400+ Networks,
230,000+ Cross
Connects
Confidential – © 2017 Equinix Inc. Equinix.com 6
To implement an interconnection strategy requires an
Interconnection Oriented Architecture™…
Interconnecting
Data
Interconnecting
People
Interconnecting
Locations
Interconnecting
Clouds
Equinix-Enabled Interconnection
Oriented ArchitectureTM
Architecture
Component
Confidential – © 2017 Equinix Inc. Equinix.com 7
Which Enables insurers to become interconnected
Confidential – © 2017 Equinix Inc. Equinix.com 8
Keep Up To Date on News from Equinix
Follow us on Twitter: @EquinixUK
@RussellPooleMD
@jmaudslay
Follow us on LinkedIn: Equinix EMEA
Subscribe to our blog: blog.equinix.com
Digital Transformation &
Innovation within Insurance
Equinix Breakfast Panel @
Global Insurance Forum 2017
July 2017
The small “d”
Confidential © Charles Taylor InsureTech Ltd 2017
10
Business Transformation is at the heart of Digital Transformation
► Common misconception that investment in new technology and digitising today’s business constitutes digital
transformation
► In the digital age, organisations need to shift focus to disrupting markets by changing products, processes and
channels to market – using technology as the enabler to achieve things that were not possible before.
digitisation automation
transformation
integration
IoT
Innovation
Confidential © Charles Taylor InsureTech Ltd 2017 11
The digital transformation maturity curve
ideat
e
creat
e
pilot
deploy
exploit
leverage
repurpose
IT
be cool
thought leadership
because you have to
build brand
beat the competition
create new markets
create new products
enter new markets
keep up with the competition
meet customer expectations
don’t get left behind
new channels
improved customer experience (UX)
optimise TCO
stay in business
increase profitability
grow
enter new markets
expand service offerings
Innovation within Insurance
Confidential © Charles Taylor InsureTech Ltd 2017 12
What will yield the great disruption and differentiation through innovation
Insurers will yield returns from
innovation in their:
- products
- processes
- channels
- markets
Achieving success
Confidential © Charles Taylor InsureTech Ltd 2017 13
It’s more than just bright ideas and funding…
Innovation, communities and
collaboration
Dickie Whitaker co-founder and Chief Executive Oasis loss
modelling framework
1
5
• A flexible plug and play framework and platform
• Gives users the choice of provider, method of integration and IT
environment
• Provides greater transparency & fuller uncertainty information
• Enables users to really choose their view of risk
Oasis: a software platform and a community
1
6
• ClimateKIC
• Lloyd’s
• SCOR
• XL Catlin
• Validus
• Ren Re
• TigerRisk Partners
• Cathedral
• Novae
• Zurich
• Liberty
• Aspen
• Aon Benfield
• Guy Carpenter
• Willis Towers Watson
• Partner Re
• Allianz
• AXIS
• MS Amlin
• Tokio Millennium Re/Kiln
• Suncorp
• JLT Re
• GenRe
• Swiss Re
• Beazley
• Argo
• Ascot
• Barbican
• Sompo Canopius
• CNA Hardy
• R&Q
• AXA
• ANV
• Chubb
• Markel
• Hannover Re
• StartStone
• Apollo
Oasis LMF Ltd Members
Over 100
partners
Oasis Ecosystem 100+
Industry
Cat model providers
Industry collaboration
Science
Govt +
1
9
Innovation, communities and
collaboration
Dickie Whitaker co-founder and Chief Executive Oasis loss
modelling framework

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Digital Transformation in Insurance – Are you ready for change?

  • 1. Confidential – © 2017 Equinix Inc. Equinix.com 1 Digital Transformation in Insurance Are you ready for change? James Maudslay, FCII – Global Head, Insurance EMEA Vertical Marketing Wednesday 19th July 2017
  • 2. Confidential – © 2017 Equinix Inc. Equinix.com 2 Agenda for Today Time Topic Speaker 07:30 – 07:40 Equinix and our role in the global insurance market James Maudslay FCII, Global Head Insurance, Equinix 07:40-07:50 Digital Transformation in Insurers Tom Maleczek, Chief Technology Officer, Charles Taylor InsureTech 07:50-08:00 Oasis Success Story – Catastrophic Modelling as a Shared Service Dickie Whitaker, CEO, Oasis Loss Modelling Framework 08:00-08:25 Panel Debate – Digital Transformation in Insurance Moderator: James Maudslay FCII, Global Head Insurance, Equinix Panelists:  Philip Brittain – Account Executive, Financial Services, Equinix  Dave Dias – Chairman – Insurance Thought Leadership & The Innovator’s Edge  David Piesse – IIS Ambassador (Asia Pacific) and Member of the Advisory Board – Guardtime Ltd
  • 3. Confidential – © 2017 Equinix Inc. Equinix.com 3 Insurance & Interconnection
  • 4. Confidential – © 2017 Equinix Inc. Equinix.com 4 Data standards powered by Acord Why do insurers need to Interconnect? CUSTOMERS ACCESS ROUTES MACHINE-2- MACHINE COUNTER- PARTIES Agents Brokers Clients Face-2-Face Internet Machine-2-Machine Mobile Snail Mail INTERNAL PROCESSES SERVICE PROVIDERS Automated U/W CRM Expert Systems / AI Rating Engine Policy Admin Self-service Claims Accounts Actuaries Adjusters IT Service Providers Engineers Lawyers INTERCONNECTED OMNICHANNEL INSURER Blockchain Telematics IoT Wearables Brokers Co-Insurers Reinsurers Managing General Agents (MGAs) Any type of client Access as decided by client Direct machine data input Electronic links to trading partners DATA REPOSITORY REGULATORS Partners Telephone Aggregators FinTech Payment Gateways Security Services MGA’s ANALYTICS Personal ANALYTICS Catastrophe Capital Personal Catastrophe Capital Digital Edge Digital Edge
  • 5. Confidential – © 2017 Equinix Inc. Equinix.com 5 Equinix Interconnection Platform – Global Reach <10ms to 90% of the population of North America, Western Europe, Top Markets in Asia-Pacific and Brazil 175+ Data Centers 44 markets 22 countries >99.9999% uptime 9,500+ Customers 170+ Fortune 500 2,500+ Cloud and IT Service Providers 1,400+ Networks, 230,000+ Cross Connects
  • 6. Confidential – © 2017 Equinix Inc. Equinix.com 6 To implement an interconnection strategy requires an Interconnection Oriented Architecture™… Interconnecting Data Interconnecting People Interconnecting Locations Interconnecting Clouds Equinix-Enabled Interconnection Oriented ArchitectureTM Architecture Component
  • 7. Confidential – © 2017 Equinix Inc. Equinix.com 7 Which Enables insurers to become interconnected
  • 8. Confidential – © 2017 Equinix Inc. Equinix.com 8 Keep Up To Date on News from Equinix Follow us on Twitter: @EquinixUK @RussellPooleMD @jmaudslay Follow us on LinkedIn: Equinix EMEA Subscribe to our blog: blog.equinix.com
  • 9. Digital Transformation & Innovation within Insurance Equinix Breakfast Panel @ Global Insurance Forum 2017 July 2017
  • 10. The small “d” Confidential © Charles Taylor InsureTech Ltd 2017 10 Business Transformation is at the heart of Digital Transformation ► Common misconception that investment in new technology and digitising today’s business constitutes digital transformation ► In the digital age, organisations need to shift focus to disrupting markets by changing products, processes and channels to market – using technology as the enabler to achieve things that were not possible before. digitisation automation transformation integration IoT
  • 11. Innovation Confidential © Charles Taylor InsureTech Ltd 2017 11 The digital transformation maturity curve ideat e creat e pilot deploy exploit leverage repurpose IT be cool thought leadership because you have to build brand beat the competition create new markets create new products enter new markets keep up with the competition meet customer expectations don’t get left behind new channels improved customer experience (UX) optimise TCO stay in business increase profitability grow enter new markets expand service offerings
  • 12. Innovation within Insurance Confidential © Charles Taylor InsureTech Ltd 2017 12 What will yield the great disruption and differentiation through innovation Insurers will yield returns from innovation in their: - products - processes - channels - markets
  • 13. Achieving success Confidential © Charles Taylor InsureTech Ltd 2017 13 It’s more than just bright ideas and funding…
  • 14. Innovation, communities and collaboration Dickie Whitaker co-founder and Chief Executive Oasis loss modelling framework
  • 15. 1 5 • A flexible plug and play framework and platform • Gives users the choice of provider, method of integration and IT environment • Provides greater transparency & fuller uncertainty information • Enables users to really choose their view of risk Oasis: a software platform and a community
  • 16. 1 6 • ClimateKIC • Lloyd’s • SCOR • XL Catlin • Validus • Ren Re • TigerRisk Partners • Cathedral • Novae • Zurich • Liberty • Aspen • Aon Benfield • Guy Carpenter • Willis Towers Watson • Partner Re • Allianz • AXIS • MS Amlin • Tokio Millennium Re/Kiln • Suncorp • JLT Re • GenRe • Swiss Re • Beazley • Argo • Ascot • Barbican • Sompo Canopius • CNA Hardy • R&Q • AXA • ANV • Chubb • Markel • Hannover Re • StartStone • Apollo Oasis LMF Ltd Members
  • 18. Oasis Ecosystem 100+ Industry Cat model providers Industry collaboration Science Govt +
  • 19. 1 9
  • 20. Innovation, communities and collaboration Dickie Whitaker co-founder and Chief Executive Oasis loss modelling framework