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Singapore to Hold 2nd Conference on Big Data and Analytics for Insurance

 

Digital Executives, CIOs, CTOs, CMOs, COOs of Life & General Insurance Companies, Reinsurers and Brokers will be treated to a conference on Big Data and Analytics at the 2nd Conference on Big Data and Analytics for Insurance to be held from the 23rd -24th of Feb 2017, at the Four Seasons Hotel, Singapore. The theme this year is “Be A Data-Driven Insurer”.

Since the emergence of InsurTech, Big Data Analytics has been playing a critical role in shaping how insurance policies will play its role in protecting individual as well as corporations interest and information.

Data applications ranging from creating new customer insights, to supporting customers strategic management decisions towards a more dynamic underwriting has become a pressing need in the industry.

The innovation opportunities for insurers to take the lead, first needs to be determined to make meaningful connections with innovators. This will help the balance between making incremental innovations and making breakthrough, disruptive innovations.

Innovations which are too radical might get rejected outright, while making too few increments in innovation will leave customers looking for better alternatives at best or being disappointed at worst.

Insurers’ Big Data initiatives need to take into account if the data they are using is intelligent and if there’s too much data being collected and how to manage it in spite of how legacy systems used to run. The conference will cover practical ways on adapting Big Data initiatives to become a data-driven insurer company wide.

The industry needs to look at an effective enterprise innovation models which will take into consideration the different organizational needs and provide innovative breakthroughs. Finding the right combination or model that is most suitable would depend on its appetite for change, the types of partnerships and capabilities they require.

As insurers find the urgency in becoming proactive to innovate their technology and processes before they are overcome by external forces, this conference will provide the information necessary towards achieving that goal in giving the how to’s, where and when to begin, sharing highlights and strategic tips, as well as what are the dangers to avoid.

 

 

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