Course Code

digitalinsurancemanagers

Duration

14 hours (usually 2 days including breaks)

Requirements

Knowledge of the insurance sector, its systems and processes
An interest in learning how Insurtech is shaping the competitive landscape in the insurance sector
An interest in learning how to adopt new technologies and methodologies in step-by-step fashion

Overview

Insurtech (a.k.a Digital Insurance) refers to the convergence of insurance + new technologies. In the field of Insurtech "digital insurers" apply technology innovations to their business and operating models in order to reduce costs, improve the customer experience and enhance the agility of their operations.

In this instructor-led training, participants will gain an understanding of the technologies, methods and mindset needed to bring about a digital transformation within their organizations and in the industry at large. The training is aimed at managers who need to gain a big picture understanding, break down the hype and jargon, and take the first steps in establishing an Insurtech strategy.

By the end of this training, participants will be able to:

Discuss Insurtech and all its component parts intelligently and systematically
Identify and demystify the role of each key technology within Insurtech.
Draft a general strategy for implementing Insurtech within their organization

Audience

Insurers
Technologists within the insurance industry
Insurance stakeholders
Consultants and business analysts

Format of the course

Part lecture, part discussion, exercises and case study group activities

Course Outline

Introduction to Insurtech

Impact on the industry
Winners and losers

Assessing the current state of your company

Technical innovations applied to the insurance sector

Big Data, Blockchain, AI, Robotics, IoT, JIT, Security

Mapping your company's current state and determining where you should be six months from now

Case study and exercise:

Carrying out a readiness assessment

Big Data: putting your biggest asset to work

Basic concepts and applications
Implementing a Big Data strategy
- Building the team
- Leveraging your assets and building from there

Blockchain: putting the digital ledger to work for your organization

Demystifying the Blockchain
Lessons from the financial sector
Implementing a Blockchain strategy
- Building the team
- Mapping your transactions to the blockchain

AI: Introduction to artificial intelligence

Machine learning, natural language processing (text and speech), computer vision and robotics
The role of corporate and open source contributions to AI research and development
Tapping into available resources

Robotics and automation: hiring robots to work for you

Automation vs Robotic Process Automation (RPA)
Implementing an RPA strategy
- Outsourcing vs building

IoT: Creating new business models based on IoT-enabled platforms and ecosystems

Five ways IoT will transform the insurance industry
Remodeling insurance policies to reflect the health and state of people and things
- Building the team

JIT: Putting Just-In-Time marketing to work in insurance