The Reinsurance industry is experiencing a whirlwind of external changes. This includes global investment shifts, the evolution of capital markets, and tumultuous macroeconomic conditions. With performance goals and shareholder expectations remaining high while customer demand becomes more nuanced, reinsurers need to take an innovative approach to better adapt to the new landscape.
Fortunately, reinsurers have an ace up their sleeve. Over the past decade or so, the growth in available data combined with advances in AI and machine learning capabilities has created new ways to quickly learn and react to the above-mentioned challenges. More so now than ever before, the ability to harness unstructured data, which is the vast majority of the data, opens the door to valuable insights and important opportunities.
For the foreseeable future, the critical point to be considerate of is that these technological advances will not replace the agent or broker. Instead, the reinsurer is augmented by utilizing these tools to find the most relevant information, convert opportunities into revenue, automate processes, and generate customer success.
Watch this webinar with our guest, Synpulse, a leading business consultancy servicing reinsurance companies globally, to learn how Artificial Intelligence will be used to help navigate the existing and upcoming challenges.
