data insurtech pexels-pixabay-158826 This piece is by Daren Rudd, Head of Business, Technology and Innovation Consulting, Insurance UK, CGI. It starts with value In the world of insurance, transformation is often driven by the search for cost reduction. Whether through automation, digitisation, or restructuring, organisations have historically pursued operational efficiency as the primary goal. However, true transformation needs be about more than just cost-cutting, it must create real long-term value for the business, its people and its customers. This critical point is often lost in the excitement of new technology, and this is especially true with the current buzz around generative AI (GenAI). Value in transformation needs to go beyond short-term financial gains. It requires a strategic approach that enhances customer experience, empowers employees, and future-proofs business models. To strike this balance, insurers need to critically evaluate how they integrate technology while preserving the human elements that have long defined the insurance industry. AI: The elephant in the room AI is dominating boardroom conversations, with insurers heavily researching its potential. GenAI and large language models (LLMs) in particular have captured industry attention. However, while AI, in its various forms, offers opportunities to improve business operations, it is not a […]
K&X Design and Investment Technology, LLC
Invest The Invisible Impact
K&X Design and Investment Technology, LLC
Invest The Invisible Impact
