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Automation

The CEO of Groundspeed on unlocking the power of data.

Groundspeed is a data analytics company that is tackling a problem faced by many property and causality brokers, carriers and managing general agents. Oliver Wyman’s Matt Leonard catches up with Jeff, on how Groundspeed is helping clients gain valuable insights about operations, pricing and market trends.

John Drzik on understanding where to use insurtech as a business accelerant

In the second content discussion at ITC 2018 to feature contributions from Marsh, John Drzik, President Global Risk and Digital, presented the broker point of view in a lively discussion of where legacy processes and systems fit into the fast-changing world of insurtech.

Oliver Wyman's Rick Chavez on Meeting Mega-Disruptions in Insurance

Flashing blue disco lights, pop music, a half dozen very large TV screens, and thousands of people. Sound like insurance? It’s insurance disrupted. This morning at ITC 2018 Rick Chavez, Oliver Wyman partner and the head of the America’s Digital Strategy Acceleration Practice gave a keynote describing the opportunities for legacy insurers trying to transform their business.

Review of key themes and trends in insurtech

Last year at InsureTech Connect we outlined six amazing technologies already reshaping insurance: drones / robotics, conversational artificial intelligence (AI), computer vision, sensors, blockchain, and genomics. So what’s happened in that time in these areas, and what’s new and upcoming? Over the next few posts let’s revisit these themes and see where things are, and where they could go.

A look back at ITC 2017: Our InsureTech Connect Conversation with AIG's Guarav Garg

Summer is under way and planning is ongoing for InsureTech Connect 2018, October 2-3 at the MGM Grand Las Vegas. Join more than 5,000 attendees for the latest in what’s happening and where insurtech will be heading. Oliver Wyman will once again be the presenting sponsor for the world’s largest insurtech gathering, where entrepreneurs, investors, insurance executives, and risk managers...

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What are the implications of a blend of digital and human capabilities?

The recent report from Oliver Wyman and the Chartered Insurance Institute (CII), “The Underwriter of the Future Six Years On,” makes clear that in many areas of corporate and commercial insurance, much of the current “artisan” business model will get a “bionic upgrade” – not 100% machine, but an inseparable blend of digital technology and human capabilities.

The example of smart grids

As part of an ongoing collaboration between Oliver Wyman and the World Economic Forum on Mitigating Risks in the Innovation Economy, Stuti Joshipura, an Oliver Wyman Principal seconded to the Forum this past year, has been in a unique position to observe different ways in which the intersection of technology and risk have unfolded.

The journey should start now.

Financial services executives view artificial intelligence (AI) with a powerful mix of excitement and concern. With new proofs of concept, innovation labs and investments in technology appearing every day, financial institutions – including insurers – are eagerly exploring AI to improve business decisions, customer experiences and risk management outcomes.

How will underwriters and underwriting change in the age of big data?

Oliver Wyman CEO Scott McDonald recently sat down for a wide-ranging discussion on the future of the insurance industry with AIG CEO Brian Duperreault. In this excerpt, Brian talks about how data science and technology will change the face of an industry that is characteristically risk averse and wedded to the “tried and true.”

November 13, 2017

A Bit about Bots

Automation and chat bots are just around the corner for insurers

Donald Light, one of our colleagues at Celent, published a report last week called “What Advice Would You Give to a Bot Looking for a Job in an Insurance Company?” The report is based on a survey that asked CIOs for their views on the potential of automation.

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