This is a taster of an article published in the latest edition of EXPOSURE magazine. For the full article click here or visit the EXPOSURE website.
There has been much industry focus on the value of digitization at the customer interface, but EXPOSURE magazine asks industry thought-leaders, what is its role in risk management and portfolio optimization? How can we help teams on the underwriting frontline?
For Louise Day, director of operations at the International Underwriting Association (IUA), a major issue is that much of the data generated across the industry is held remotely from the underwriter.
How does the cloud feature in the transformation plan for your business?
If you are a business leader in your organization, perhaps the “cloud” and your cloud strategy has been something left to the IT professionals who are responsible for managing your IT infrastructure.
But as a business leader, you are responsible for setting the transformation agenda in your organization. Across the board, many (re)insurers take advantage of the opportunities presented by digitalization. From online sales and advanced analytics to the Internet of Things — transformation is inevitable. Your ability to compete and secure future wins depends on how well your organization capitalizes on “big data” to balance speed to market, customer delight, and technology costs. Without the cloud, there is no big data.