Webinar : Desperately Seeking Transformation - Part 1: Why data will make or break your transformation plans

Delivering Digital Together
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Welcome
Hugh Terry
Founder
The Digital Insurer

Today’s Agenda
Up to
60
Minutes
Welcome
Opening remarks
Panel discussion – Part 1
• Uses of data in insurance
Panel discussion – Part 2
• How to make it happen at an enterprise level
Close

Housekeeping
How to participate
If you have a question please type into the Q&A area
If you have a comment please type into the chat area
Polls
We’re using both Menti and Zoom polls today
You can activate the Menti polls now via the QR code or by going to Menti.com
Please respond to the poll questions throughout the webinar
Your experience
You can select slides only, slides + speaker, speaker only
We will post links to booths and other info in the chat area
Post-event
We will send a link with recordings of the event including links to slides in a few days. 6
SP
OR Go to Menti.com
and enter the code:
3814 1594

Today’s Presenters
Arvind Swami
Director, Financial
Services, Asia
Pacific, Red Hat
Derk von Ogtrop
Director, Alliances
and Channels APJ,
Starburst Data
OR Go to Menti.com
and enter the code:
3814 1594

OR Go to Menti.com
and enter the code:
3814 1594
Menti - Poll 1
Question
Which country are you connecting from today?

Menti - Poll 2
Question
How has the weather been in August for you ?
1. Too cold
2. Just right
3. Hot
4. Too hot
OR Go to Menti.com
and enter the code:
3814 1594

A few thoughts on the topic

Why we’re here today
Importance of Data in Digital Transformation
Source: https://hbr.org/2021/11/the-essential-components-of-digital-transformation

Why we’re here today
Importance of Data in Digital Transformation

DISCUSSION THEMES
• Why you need the right data architecture from the outset and why it is so difficult
to change later
• How data architecture plays a vital role in turning AI hype into reality
• What we can learn from others – Lessons from out-of-industry data success
stories – How banks & other financial services companies have succeeded,
where insurers continue to struggle
• Important considerations in facilitating (hyper) personalisation
• Why getting data architecture right is particularly important for multi-nationals
• How to implement good data governance & security in a distributed world
Key Themes

Topic 1 – Uses of data in insurance
Personalisaton
Customer
segmentation
(NBO)
Underwriting &
Risk assessment
Customer service
& sentiment
Claims
processing
Fraud detection
Automated
underwriting
Pricing models
Reserving
New product
development
On demand
insurance
Embedded
insurance
Comparison sites
Data in the insurance
value chain

OR Go to Menti.com
and enter the code:
3814 1594
Menti - Poll 3
Question
Rank these trends in the order you think are most important:
1. Real time data & analytics
a) Customer data analytics & Personalisation
b) Customer segmentation
c) Customer service
2. Process improvement
a) Underwriting & Risk assessment
b) Claims processing
c) Fraud detection
3. Product Development & Management
a) Pricing models
b) Embedded insurance
c) Comparison sites
d) On-demand
e) New product development
4. Other (please share you view on chat)

Panel Discussion
What questions are on
your mind?
Feel free to ask your
questions via the Zoom
Q&A function

Menti - Poll 4
Question
In your experience how far along is insurance industry in maximising the user of data?
1. Early days for most
2. Some standout examples but most remain at early days
3. Broadly the industry is starting to master how to use data
4. Approaching mastery
OR Go to Menti.com
and enter the code:
3814 1594

Topic 2- How to make it happen at an enterprise level
Derk von Ogtrop
Director, Alliances
and Channels APJ,
Starburst Data

Data silos continue to be a challenge, despite efforts
to create a “single source of truth”
Where do we go
from here?
• Monolithic architecture
• Closed ecosystem
• Expensive to scale
Legacy data lake
Data warehouse
• Patchwork of disparate systems
• Difficult to maintain and access
• Slow time to insight
Data silos

The Modern Data Lake
Commodity storage
& compute
Elastic compute
Object storage
Open file formats
Global federated
access to data sources
beyond the lake
Scalable, cost effective
Vendor agnostic
Benefits
Single point of access and
governance for all data
Advanced warehouse-
like capabilities
MPP query engine
Open table formats

Today’s Panelists
Arvind Swami
Director, Financial
Services, Asia
Pacific, Red Hat
Derk von Ogtrop
Director, Alliances
and Channels APJ,
Starburst Data

DISCUSSION THEMES
• Why you need the right data architecture from the outset and why it is so difficult
to change later
• How data architecture plays a vital role in turning AI hype into reality
• What we can learn from others – Lessons from out-of-industry data success
stories – How banks & other financial services companies have succeeded,
where insurers continue to struggle
• Important considerations in facilitating (hyper) personalisation
• Why getting data architecture right is particularly important for multi-nationals
• How to implement good data governance & security in a distributed world
Panel Discussion

Menti - Poll 5
Question
Select the two data transformation challenges you see as a priority
1. Selecting the appropriate data architecture
2. Considerations around hyper personalisation
3. Making data accessible and useable – overcoming data silos
4. Building on top of and around heritage policy administration systems
5. Data privacy and residency
6. Analytics skills shortages
7. Other (please let us know in chat)
OR Go to Menti.com
and enter the code:
3814 1594

Thanks to today’s panelists
Arvind Swami
Director, Financial
Services, Asia
Pacific, Red Hat
Derk von Ogtrop
Director, Alliances
and Channels APJ,
Starburst Data

Menti - Poll 6
Question
What areas of data management would you like us to cover in Part 2 of the series
(Select as many as you like)
1. Go deeper on Tech architecture
2. Review some case studies / examples of insurers using data
3. Share you latest thinking on generative AI
4. Latest trends in using cloud to enable data strategy
5. Other (please share in chat)
OR Go to Menti.com
and enter the code:
3814 1594

Zoom - Poll 7
Question
Would you like to make contact with any of our speakers?
1. Arvind Swami, Red Hat
2. Derk von Ogtrop, Starburst Data
3. Hugh Terry, TDI

Feedback please!
Feedback on Today’s Event, Four Ways...
▪ Use the link in the chat now
▪ At the end of today’s event using survey prompt
▪ When you receive the recording link email
▪ Directly to TDI or any of the speakers
Please complete the survey if you would like to download the
Forrester thought leadership paper entitled:
“Fuel Growth By Building An Insights-Driven Business”

Thanks for your time!
(feedback please)

Webinar : Desperately Seeking Transformation - Part 1: Why data will make or break your transformation plans

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