With new technologies enhancing operational efficiency and customer experience, from artificial intelligence to IoT technology and mobile customer communication methods, evidence shows now is a critical time for InsurTech advancements in North America.

A recent Reuters Events survey of over 450 senior North American insurance executives found that 92% of executive teams are currently “dedicated to transforming the multiple functions," with 44% aiming to improve the customer experience and 41% seeking to improve operational efficiency as a priority. Whatever their aims, it is clear that digital transformation is a critical focus now and in the near future. 

Companies must realize the advantages of increased automation and AI by assessing the current opportunities, identifying the high-impact applications, and laying out the business plan through to full functionality. It is also crucial to identify the “quick wins" to automate activities with the highest automation potential and free up resources to create a long-term vision for comprehensive transformation, with automation and AI capabilities at the core.

One main goal is to build an augmented intelligence operating model—combining machine intelligence and human judgment—for a continuous loop of business insights and improvements.

To learn more, join a free and exclusive webinar, Digital Transformation for A New Era: Maximizing the Potential of Analytics, AI & Automation, to be held on Thursday, Oct. 8 at 11 am ET. Hear from industry thought leaders Anna Foat, director, global digital transformation office, Sun Life Financial; Eugene Wen, vice president, group advanced analytics, Manulife Financial; and Vikram Mahidhar, global head of digital transformation, Genpac, to find out why digital transformation is a matter of necessity.