- The panel discussion focused on whether insurers can generate more value by focusing on customer lifetime value (CLV) instead of just individual products.
- Moving from a product-centric to a customer-centric model may provide valuation upside for insurers, but it requires changes to pricing, valuation and profitability models.
- Insurers can learn from other industries like banks that view customers as long term assets. However, transforming organizations and strategies to adopt CLV fully will take time and effort.
- New digital business models and platforms are also creating opportunities for insurers to engage customers in wider ecosystems and accommodate other products/services.
Listen to an experienced, global panel of insurance professionals present, discuss and answer your questions on the theme of “2018 Digital Insurance Predictions”.
Brought to you by The Digital Insurer and sponsored by KPMG.
The future of insurance distribution: New models for a digital customerAccenture Insurance
This report argues that incumbents need to embrace digital disruption, form partnerships and adopt innovative technologies to improve customer engagement and create new opportunities for growth. It introduces five new distribution models that insurers should consider, as well as six ‘lenses’ through which they can be evaluated.
Your insurance clients know that far-sighted players are already confronting the future of insurance distribution. Use this report to help them assess their options.
Digital First Marketing – Practical Use case for life insurance advisorsThe Digital Insurer
Digital First Marketing – Practical Use case for life insurance advisors
International Agency Forum – 22-23 May 2019, Shanghai
“From Quantity to Quality”
Listen to an experienced, global panel of insurance professionals present, discuss and answer your questions on the theme of “2018 Digital Insurance Predictions”.
Brought to you by The Digital Insurer and sponsored by KPMG.
The future of insurance distribution: New models for a digital customerAccenture Insurance
This report argues that incumbents need to embrace digital disruption, form partnerships and adopt innovative technologies to improve customer engagement and create new opportunities for growth. It introduces five new distribution models that insurers should consider, as well as six ‘lenses’ through which they can be evaluated.
Your insurance clients know that far-sighted players are already confronting the future of insurance distribution. Use this report to help them assess their options.
Digital First Marketing – Practical Use case for life insurance advisorsThe Digital Insurer
Digital First Marketing – Practical Use case for life insurance advisors
International Agency Forum – 22-23 May 2019, Shanghai
“From Quantity to Quality”
Just as Amazon changed how we buy things and
Netflix transformed how we consume videos,
companies like AirBnB and Uber have shaken up the
hotel and transportation industries. With new disruptive
technologies, products, services and business models
being introduced almost daily, CIOs need to take charge
of their organization’s response now to secure long-term
business success.
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Are you a Digital Transformation leader? Can you create a high-performance strategy in the digital age? Have you got what it takes to avoid the tumbling barrels of distracting digital tactics, over hyped technology or the belief that your market is immune to disruption? Have you allocated the right resources to deliver a focused plan of transformation?
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When planning a digital initiative, it’s critical to understand where your company stands today and how it can get to where it needs to go. A new framework lets insurers assess their digital maturity, identify how best to move ahead, and gain insight into the practices of industry digital leaders to guide their own efforts.
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Digital technologies are enabling and driving a massive change in consumer behaviors and expectations across every industry. Insurance is no exception: business models are rapidly changing in response, and insurers now need a different set of skills, cultures and measurements to prosper in this marketplace. To understand how insurance companies are grasping and exploiting the shift to digital, EY undertook a global industry survey during the second quarter of 2013. Participants in more than 100 companies in the Americas, Europe and Asia-Pacific told us how insurance companies are responding to the digital challenge. During this webcast, our Global Insurance Customer Leader, Graham Handy and a panel of insurance professionals discussed:
- How digital is reshaping the global insurance industry landscape
- How insurers should respond to the digital challenges
To watch the webcast, visit: http://bit.ly/177XhZv
To access the survey and additional information, please visit: http://www.ey.com/GL/en/Industries/Financial-Services/Insurance/Insurance-in-a-digital-world--The-time-is-now
4 key elements to success in the 3rd platform by Jerod Powell - CEO INFINIT ...Jerod Powell
Digital Transformation, 3rd Platform, And Disruptive IT - What You Need To Know To Be Successful: Transform Or Die, That Simple.
In this Presentation, Jerod Powell, CEO of INFINIT Consulting is going to shed some light on why some partners are highly successful in the cloud and era of the 3rd platform and why some are seemingly stuck and dying a slow death.
Essentials of Automations: Optimizing FME Workflows with ParametersSafe Software
Are you looking to streamline your workflows and boost your projects’ efficiency? Do you find yourself searching for ways to add flexibility and control over your FME workflows? If so, you’re in the right place.
Join us for an insightful dive into the world of FME parameters, a critical element in optimizing workflow efficiency. This webinar marks the beginning of our three-part “Essentials of Automation” series. This first webinar is designed to equip you with the knowledge and skills to utilize parameters effectively: enhancing the flexibility, maintainability, and user control of your FME projects.
Here’s what you’ll gain:
- Essentials of FME Parameters: Understand the pivotal role of parameters, including Reader/Writer, Transformer, User, and FME Flow categories. Discover how they are the key to unlocking automation and optimization within your workflows.
- Practical Applications in FME Form: Delve into key user parameter types including choice, connections, and file URLs. Allow users to control how a workflow runs, making your workflows more reusable. Learn to import values and deliver the best user experience for your workflows while enhancing accuracy.
- Optimization Strategies in FME Flow: Explore the creation and strategic deployment of parameters in FME Flow, including the use of deployment and geometry parameters, to maximize workflow efficiency.
- Pro Tips for Success: Gain insights on parameterizing connections and leveraging new features like Conditional Visibility for clarity and simplicity.
We’ll wrap up with a glimpse into future webinars, followed by a Q&A session to address your specific questions surrounding this topic.
Don’t miss this opportunity to elevate your FME expertise and drive your projects to new heights of efficiency.
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91mobiles recently conducted a Smart TV Buyer Insights Survey in which we asked over 3,000 respondents about the TV they own, aspects they look at on a new TV, and their TV buying preferences.
JMeter webinar - integration with InfluxDB and GrafanaRTTS
Watch this recorded webinar about real-time monitoring of application performance. See how to integrate Apache JMeter, the open-source leader in performance testing, with InfluxDB, the open-source time-series database, and Grafana, the open-source analytics and visualization application.
In this webinar, we will review the benefits of leveraging InfluxDB and Grafana when executing load tests and demonstrate how these tools are used to visualize performance metrics.
Length: 30 minutes
Session Overview
-------------------------------------------
During this webinar, we will cover the following topics while demonstrating the integrations of JMeter, InfluxDB and Grafana:
- What out-of-the-box solutions are available for real-time monitoring JMeter tests?
- What are the benefits of integrating InfluxDB and Grafana into the load testing stack?
- Which features are provided by Grafana?
- Demonstration of InfluxDB and Grafana using a practice web application
To view the webinar recording, go to:
https://www.rttsweb.com/jmeter-integration-webinar
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Search and Society: Reimagining Information Access for Radical FuturesBhaskar Mitra
The field of Information retrieval (IR) is currently undergoing a transformative shift, at least partly due to the emerging applications of generative AI to information access. In this talk, we will deliberate on the sociotechnical implications of generative AI for information access. We will argue that there is both a critical necessity and an exciting opportunity for the IR community to re-center our research agendas on societal needs while dismantling the artificial separation between the work on fairness, accountability, transparency, and ethics in IR and the rest of IR research. Instead of adopting a reactionary strategy of trying to mitigate potential social harms from emerging technologies, the community should aim to proactively set the research agenda for the kinds of systems we should build inspired by diverse explicitly stated sociotechnical imaginaries. The sociotechnical imaginaries that underpin the design and development of information access technologies needs to be explicitly articulated, and we need to develop theories of change in context of these diverse perspectives. Our guiding future imaginaries must be informed by other academic fields, such as democratic theory and critical theory, and should be co-developed with social science scholars, legal scholars, civil rights and social justice activists, and artists, among others.
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Here is something new! In our next Connector Corner webinar, we will demonstrate how you can use a single workflow to:
Create a campaign using Mailchimp with merge tags/fields
Send an interactive Slack channel message (using buttons)
Have the message received by managers and peers along with a test email for review
But there’s more:
In a second workflow supporting the same use case, you’ll see:
Your campaign sent to target colleagues for approval
If the “Approve” button is clicked, a Jira/Zendesk ticket is created for the marketing design team
But—if the “Reject” button is pushed, colleagues will be alerted via Slack message
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And...
Speakers:
Akshay Agnihotri, Product Manager
Charlie Greenberg, Host
GraphRAG is All You need? LLM & Knowledge GraphGuy Korland
Guy Korland, CEO and Co-founder of FalkorDB, will review two articles on the integration of language models with knowledge graphs.
1. Unifying Large Language Models and Knowledge Graphs: A Roadmap.
https://arxiv.org/abs/2306.08302
2. Microsoft Research's GraphRAG paper and a review paper on various uses of knowledge graphs:
https://www.microsoft.com/en-us/research/blog/graphrag-unlocking-llm-discovery-on-narrative-private-data/
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Clients don’t know what they don’t know. What web solutions are right for them? How does WordPress come into the picture? How do you make sure you understand scope and timeline? What do you do if sometime changes?
All these questions and more will be explored as we talk about matching clients’ needs with what your agency offers without pulling teeth or pulling your hair out. Practical tips, and strategies for successful relationship building that leads to closing the deal.
UiPath Test Automation using UiPath Test Suite series, part 4DianaGray10
Welcome to UiPath Test Automation using UiPath Test Suite series part 4. In this session, we will cover Test Manager overview along with SAP heatmap.
The UiPath Test Manager overview with SAP heatmap webinar offers a concise yet comprehensive exploration of the role of a Test Manager within SAP environments, coupled with the utilization of heatmaps for effective testing strategies.
Participants will gain insights into the responsibilities, challenges, and best practices associated with test management in SAP projects. Additionally, the webinar delves into the significance of heatmaps as a visual aid for identifying testing priorities, areas of risk, and resource allocation within SAP landscapes. Through this session, attendees can expect to enhance their understanding of test management principles while learning practical approaches to optimize testing processes in SAP environments using heatmap visualization techniques
What will you get from this session?
1. Insights into SAP testing best practices
2. Heatmap utilization for testing
3. Optimization of testing processes
4. Demo
Topics covered:
Execution from the test manager
Orchestrator execution result
Defect reporting
SAP heatmap example with demo
Speaker:
Deepak Rai, Automation Practice Lead, Boundaryless Group and UiPath MVP
2. 2
Disclaimer
Presentations are intended for educational purposes only and do not replace independent
professional judgment. Statements of facts and opinions expressed are those of the
participants individually and, unless expressly stated otherwise, are neither the opinion nor
position of The Digital Insurer. The Digital Insurer do not endorse or approve, and assume
no responsibility for, the content, accuracy or completeness of the information presented.
3. 3
Themes
• Is there valuation upside for insurers that can move from 'Product' to 'Customer Lifetime Value'?
• What can insurers learn from other sectors on the key value metrics they track/report?
• How quickly can executives expect to make an impact on results, and their share price, by moving
the organisation to CLV?
• What can insurers learn from banks on how they view the value of a customer?
• How many insurance pricing and valuation models need to change in order to adopt CLV in a digital
world?
• How are insurers going to accommodate wider ecosystem products and services in their
profitability assumptions?
4. 4
Today’s Panellists
Farooq Hanif
Head of Insurance Equity Research,
Credit Suisse
Christopher Ong
Chief Actuary & Head of Product Science,
Life Capital Asia Pacific
Swiss Re
Clarence Lin
Senior Vice President,
Regional Bancassurance
DBS Bank
Simon Phipps
Founder,
The Digital Insurer
5. 5
Discussion Agenda
75
Minutes
Simon Phipps - Introduction & Strategic Overview
Farooq Hanif – Credit Suisse
Clarence Lin – DBS Bank
Christopher Ong – Swiss Re
Panel discussion & audience Q&A
Hugh Terry - TDI Updates
6. 6
How to participate
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
Session format:
The moderator will use a combination of their own questions and those from the
audience
8. 8
TDI POV: Industry Warning – digital
tipping point is approaching insurers
faster than expected
Executive teams must urgently
accelerate their transformation efforts
8
Presented by
Simon Phipps
Founder & Head of Asia, The Digital Insurer
Working together to accelerate the digital transformation of insurance
9. 9
Digital is creating opportunity
Working together to accelerate the digital transformation of insurance
10. 10
New Market Space is Emerging
Working together to accelerate the digital transformation of insurance
VOLUME VALUE
Physical 1st
(digitally enabled)
Physical 1st
(digitally enabled)
Digital 1st
(with right amount of human)
Digital 1st
(with right amount of human)
Digital
Micro
Digital
Micro
No.ofPolicies
Valueperpolicy*
11. 11
Customer Segments are transcending models
Physical 1st
(digitally enabled)
Digital 1st
(with right amount of human)
MicroInsurance
Physical1st
(digitallyenabled)
Digital1
st
(withrightamountofhuman)
DigitalMicro
HNW
Middle
Class
Low
Income
Incumbents
New Entrants / Greenfield
?
?
H
T Working together to accelerate the digital transformation of insurance
12. 12
Traditionally, insurers @ competitive disadvantage
Working together to accelerate the digital transformation of insurance
13. 13
But now, have tech-enabled ecosystem opportunity
Source: https://www.bain.com/insights/customers -know -what-they-want-a re - insurers -listenin g/
Working together to accelerate the digital transformation of insurance
14. 14
This requires a different way of thinking about value
Source: https://blog.kissmetrics.com/wp-content/uploads/2011/08/calculating-ltv.pdf
15. 15
…that goes beyond the traditional approaches
Source: https://rpubs.com/sisupalan/customer_lifetime_value
16. 16
Market Context : The rise & rise of Platforms
Working together to accelerate the digital transformation of insurance
17. 17
Valuations – significant upside for some insurers?
Working together to accelerate the digital transformation of insurance
32. 32
Panel Discussion
Farooq Hanif
Head of Insurance Equity Research,
Credit Suisse
Christopher Ong
Chief Actuary & Head of Product Science,
Life Capital Asia Pacific
Swiss Re
Clarence Lin
Senior Vice President,
Regional Bancassurance
DBS Bank
Simon Phipps
Founder,
The Digital Insurer
33. 33
Poll
Q. Based on what you've just heard, doyou think insurers need tostart acting more likeAmazon
&Starbucks when it comes tovaluing andengaging with their customers?
Response options:
a) Yes
b) No
Snap Poll
34. 34
Panel Discussion
Farooq Hanif
Head of Insurance Equity Research,
Credit Suisse
Christopher Ong
Chief Actuary & Head of Product Science,
Life Capital Asia Pacific
Swiss Re
Clarence Lin
Senior Vice President,
Regional Bancassurance
DBS Bank
Simon Phipps
Founder,
The Digital Insurer
36. 36
About the TDI Academy
Working together to accelerate the digital transformation of insurance
www.the-digital-insurer.com/tdi-academy/
37. 37
Common Core
Curriculum
1.1 The 4th Industrial Revolution
1.2 Our connected world
1.3 The power of Social
1.4 Changing consumer behaviour
1.5 More change coming
1.6 Why data is King
1.7 Cloud crushes costs
1.8 Insurance Re-Booted
2.1 SMAC as a baseline
2.2 AI, Machine Learning & RPA
2.3 Blockchain
2.4 IoT
2.5 Chat & Voice
2.6 Immersive Technologies
2.7 APIs & Microservices
2.8 Tech Architecture best practices
7 x 8 x 1hr lessons
100% Virtual
MCQs for each
4.1 Sales tools for agents
4.2 Underwriting – Life & Health
4.3 Underwriting – P&C
4.4 Product Development
4.5 Service & Administration
4.6 Claims – Life & Health
4.7 Claims – P&C
4.8 implementing value chain
innovations
5.1 Platforms & Ecosystems
5.2 Microinsurance
5.3 On-demand
5.4 Comparison Sites
5.5 Peer-to-Peer & Community
5.6 Health & Wellness
5.7 Commercial
5.8 Building new digital business
models
6.1 Data-led marketing
6.2 Direct digital marketing
6.3 digital marketing for advisors
(o2O)
6.4 Power of content
6.5 Omni sales & servicing
6.6 Customer lifetime value &
customer advocacy
6.7 Customer experience
6.8 Out-of-industry use cases
7.1 Why Strategy beats execution
7.2 Regulations and ethics in a digital world
7.3 Transforming the old vs building the new
7.4. Partnerships in a digital world
7.5 AGILE & LEAN basics
7.6 Change Management as a discipline
7.7 Cultural change for a digital world -
Digital as DNA
7.8 How to succeed when most
transformations fail
3.1 The Power of Data
3.2 Python basics
3.3 Python intermediate
3.4 Data visualization & example
tools
3.5 Machine learning (+ a little bit of
deep learning)
3.6 D&A use cases in P&C
3.7 D&A use cases in Life & Health
3.8 Predictive Modelling
TDI Academy – learning for the digital age
1
OUR
CHANGING
WORLD
2
TECH
ENAB
LERS
3
DATA
&
ANAL
YTICS
4
VALUE CHAIN
INNOVATIONS
5
NEW DIGITAL
BUSINESS
MODELS
6
MARKETING &
CUSTOMER
EXPERIENCE
7
STRATEGY
&
TRANSFOR
MATION
Range of Industry
Experts
TDI
PRIME
www.the-digital-insurer.com/tdi-academy/
38. 38TDI Academy – learning for the digital age
ADI & CDI compared
39. 39
Excellent participant & sponsor
feedback on ADI
“the ADI course has fundamentally
re-wired my brain, it is one of the
best investments I ever made"
TDI Academy – learning for the digital age
NPS
+51%
Excellent
Participant Feedback
“I have to say, I’m most impressed. The feedback from our
teams is overwhelmingly positive – you took on a mighty
task to disrupt something that needs to be disrupted – and
delivered. We’ll undoubtedly be putting more team-
members through ADI… and are very interested in EDI
and CDI too”
Sponsor Feedback
40. 40
Poll
Q. How interested are you in virtual learning & development programs
on digital insurance?
Response options:
a) Yes - for me & my company
b) Yes - for me
c) Yes - for my company
d) No - I think we know enough in this space
Snap Poll
43. 43
Feedback please!
Three ways
At end of webinar using survey
When you receive the recording link
To TDI / or panellist individually
44. 44
Contact Details
TDI Academy – learning for the digital age
Simon Phipps @ TDI simon.phipps@the-digital-insurer.com
Hugh Terry @ TDI hugh.terry@the-digital-insurer.com
Christopher Ong @ Swiss Re christopher_ong@swissre.com
Clarence Lin @ DBS clarencelin@dbs.com
Farooq Hanif @ Credit Suisse farooq.hanif@credit-suisse.com
45. 45
Customers for life in a digital
world
15 October 2020
Thanks for your time!
(feedback please)