10 Questions
What should carriers be focusing on when developing a strategic plan based on AI insights?
Operations, talent, and technology
In addition to AI explorations, what is a key factor that carriers must consider in their long-term strategic plan?
Touching operations, talent, and technology
What innovative approaches are some carriers already taking according to the text?
Starting venture-capital arms
When developing a strategic plan, why is it crucial for insurers to identify areas they want to invest in?
To beat the market
What dimensions should a strategic plan for large-scale, analytics-based initiatives address?
Everything from data to people to culture
What should the road map of AI-based pilots and POCs detail?
Which parts of the organization will require skill building or focused change management investments
Why do some carriers begin taking innovative approaches like starting venture-capital arms or acquiring insurtech companies?
To stay ahead of or match the market competition
What is a critical factor that insurance companies should consider when deciding on the strategic approach best suited for their organization according to the text?
Areas they want to invest in
What should carriers focus on regarding people when planning for large-scale analytics-based initiatives?
Investing in skill building and change management for employees
Why should insurers outline a road map of AI-based pilots and POCs according to the text?
To detail which parts of the organization will require such investments
Explore the latest trends in the insurance industry, from instant quotes enabled by telematics and IoT devices to the impact of AI on life underwriting. Learn about the evolution of simplified issue products and the challenges faced by carriers as pricing algorithms mature.
Make Your Own Quizzes and Flashcards
Convert your notes into interactive study material.
Get started for free
