HYSEA in Association with Bourntec hosts a leaders round table on ‘Digital Transformation as a strategic differentiator in Insurance Industry‘

HYSEA in association with Bourntec hosted a Leaders Round Table on ‘Digital Transformation as a strategic differentiator in Insurance Industry’ with Kiran Achen, an accomplished insuretech leader, ORBIE Winner – CIO of the year 2022, and highly recognized CIO of Tokio Marine Highland, Chicago, USA. In the highly informative and interactive round table, leaders shared their insights on AI-M, Metaverse, Web 3.0, NLP & Computer Vision and overall how these technologies are already creating immense business value to all the stakeholders. Prashanth Nandella, Vice President, HYSEA & COO & President, firstsource moderated the session with more than 40+ leaders attending the round table. Important leaders present included Manisha Saboo, President, HYSEA, Hari Raja, Centre Head, WIPRO, Sairam Vedam, Chief Marketing Officer (CMO), Cigniti Technologies, Uma Gogineni, CPO, Valuemomentum, Ramesh Loganathan, Prof, IIIT-H and more.

Key Summary of the talk by the distinguished speaker:

1. How the end-to-end value chain in digitization is frictionless. The three main aspects covered under Digitization with respect to Insurance Industry are Policy Processing, Dealings and Claims, Challenges associated in extracting the data

2. How we can modify AI with high quality data set to work along with the low-resolution data of medical imaging

3. Arriving at an optimal mechanism where the AI is needed and where the human interference is required

4. AI for Insurance companies can be used for Risk management to provide additional data points to understand the possible loss in future or improving the risk score and making decisions on how much money to hold in backend for the future claims made by the clients

5. Understanding how privacy policy of a customer is being applied considering the socio demographic profiles

6. Trends that are going to shape the next 10-15 years, such as metaverse, web 3.0, using sentiment analysis to understand the emotional aspects from chatbots, etc. Technological advancements in metaverse are producing numerous practical applications. Sustainability is an important aspect that must be valued fromboth the customers’ and Industry point of view