Digital Innovation: Technology & practical opportunities in the evolving risks landscape
10/09/2023
There are a whole host of benefits that can be achieved through the adoption of relevant technology solutions. Drawing upon Group Chief Underwriting Officer Penny Seach’s insights on how digital innovation drives and enhances the art of underwriting offering more opportunities and benefits to clients. This episode is part of ‘Zurich Talks Podcasts – Digital Innovator series’. Zurich Talks is a platform underscoring Zurich’s ambition to become one of the most responsible and impactful businesses in the world.
Consumers are always looking for things to be made simpler, and insurance is no different to that
“I think any consumer, it doesn’t matter what you’re buying, you’ll always look at it and wish there was something different and wish that there was maybe less paper or something was made easier. I would say insurance is no different to that.”
It's about the ability to turn data into insight, and insight into knowledge
“Everyone talks about data, it’s at the core of what we’re doing, but its about having the ability to ingest the relevant data and that generate an insight from it, that’s where underwriters will pick it up from and use it in conversations with our customers.”
Bringing teams along in the journey is about making things quicker and more seamless, for us and the customer
“For example, looking at a particular risk may take us three days of analysis by the time we put the information through different models and do our research. If we can bring technology in to help us with that, it could take seconds or even say half an hour at worst case, which just allows us so much more time to turn the data into insight and knowledge.”
About Zurich Talks
This series brings together leading thinkers, academics, activists, NGOs, and business executives to discuss the most urgent issues facing society today, such as net-zero transition, mental health, and digital transformation. For more podcasts and insight, visit zurich.com/en/zurich-talks
