Build A Business-Driven Analytics Strategy For Commercial Lines

Embed Analytics Into The Heart Of Your Organisation

  • Treat data as your biggest asset, and create an insights-driven business model that propels efficiency, profitability, and client engagement

  • Drive enterprise-wide transformation by enabling internal, external, and unstructured data to flow between business units and functions, and feed through to clients and brokers

  • Introduce agility and flexibility to your existing mainframe, and wrap new capabilities around your existing legacy structure to enable plug and play connectivity with third parties

Reimagine Work For The Age Of Intelligent Machines

  • Don’t just invest in your tech, invest in your people! Cultivate a culture, skills, and talent strategy that supports data-driven business and operating models

  • Build a skills inventory to identify key enablers of analytical prowess, and understand how this can inform internal learning programmes and external recruitment drives

  • Increase mobility between core teams to encourage cross-functional collaboration, and discover which training, mentoring, and secondment opportunities are most successful for upskilling existing staff

Prepare For The Next Generation Of Commercial Products and Client Services

  • Debate the prediction that commercial lines will inevitably move away from traditional commoditised products, and towards more bespoke and innovative solutions tailored to meet unique risks and changing demands

  • Sidestep the disintermediation debate, and consider what it takes for insurers and brokers to share insights and collaborate more closely to structure innovative client solutions that increase value to the end customer

  • Harness data-driven insights to build closer relationships with clients, and identify empirical measures to support new business and renewals

  • Get to grips with new and emerging niche products, and understand how to launch and manage PoCs and pilots to grow core products for the future around new and emerging risks

Tackle The Data Challenge For Commercial Lines

Supercharge Your Data Curation Effort To Create An Automation-Worthy Environment

  • Tackle the challenge of historical data stored in crude and inflexible formats and assess the cost/benefit scenario of going back to recurate historical legacy data

  • Explore best practice for data curation from the point of ingestion, and ensure your data curation strategy lays the foundation for swift and sophisticated applications of automation

  • Ensure the long-term value of your data assets by providing for re-use over time, and know what it takes to support and enable ongoing data discovery, retrieval and analysis

Unearth Valuable Sources of Untapped Internal Data

  • “But there’s not enough data!” Get ready to dispel the myths around the lack of available data in commercial lines, and hear from industry leaders who are uncovering a goldmine of untapped data resources

  • Identify what those valuable sources of previously untapped internal data are, and explore what new analytic tools are available to begin mining and extracting value

  • Understand why the time-consuming process of collecting, cleaning, and organising internal data is limiting its value, and hear tried and tested strategies for enabling senior executives to refocus their attention on mining and modelling insights

Cultivate Data Enrichment and Make External Data Hunting A Priority

  • Get ready to develop an obsession with data enrichment, and understand why third-party data is emerging as a key driver of underwriting profitability

  • Know what it takes to find new sources of insight that your competitors have not yet discovered, and explore the variety of external data sources relevant to risk transfer in commercial lines

  • Move beyond existing data solutions and traditional analytical tools, and tackle the implementation of next generation infrastructure, platforms and tools to source, harmonise, and drive real business insights from external data

  • Get to grips with the latest use cases for leveraging external data to build more accurate models, better select and price risks and gain access to the most attractive risk pools

Leverage Emerging Technologies And Advanced Analytics Tools For Commercial Lines 

Automate Manual Tasks To Give Hours Back To Your Business With Robotic Process Automation (RPA)

  • Prepare to be dazzled by the ROI already being delivered by RPA projects, and hear the latest industry stats on the benefits of removing manual data entry, data sourcing, and data cleaning from the routine tasks of senior executives

  • Explore best practice for selecting which internal processes to automate, and identify the low-hanging fruit that can deliver significant cost savings to bolster the business case for further investment

  • Understand why the business units (and not IT) must take the lead on mapping processes, and uncover strategies for building bridges between business leaders, IT, and automation specialists

  • Understand why aftercare is so critical to the success of RPA projects, and develop a roadmap for gaining the confidence of business unit heads by monitoring success, spotting, investigating and pre-empting problems, and engaging key stakeholders in the process

Exploit Natural Language Processing (NLP) To Deliver Valuable Insights To Decision-Makers

  • Hear how text analytics powered by machine learning is enabling the extraction of relevant and actionable insights from unstructured text, eg, reports, contracts, policy documents, and invoices

  • Decision-makers should not be sifting through thousands of documents. Move away from manual sifting and sampling, and leverage NLP to interrogate, extract, and summarise valuable information

  • Hear direct from insurers who have transformed business outcomes with NLP tools, and get a blueprint for implementing text analytics to empower senior executives to focus on high value work

Harness Real-Time Decision Support And Lay The Foundations For Rules-Based Automated Decision Making

  • Execute advanced decision support systems to enable faster and more informed decisions, and lay the foundations for sophisticated cognitive systems that learn and adapt in real time

  • Empower decision-makers to rely less on future assumptions based on historical data, and hear tried and tested methods for building new models that allow for the prediction of losses based on completely novel data

  • Develop rules-based automation that can update premiums and coverage based on real-time events, and deploy advanced analytics to reduce the cycle time between a market issue arising and actioning a response

Intelligent Automation For Core Commercial Insurance Functions

Powering the Data-Driven Underwriter of The Future

  • Get to grips with the latest technologies available to enhance the underwriting process including sensor-based technologies and semantic web applications, and explore how new tools are being applied to improve the quality and efficiency of the underwriting process

  • Understand how pricing decisions will become more statistically grounded in sophisticated analytics and rules-based decision support, and get ready to move beyond existing pricing models to develop data-driven pricing decisions and a quantification culture

  • Identify the new specialist skills that will complement core underwriting competencies including data-driven product development, portfolio management and pricing analytics, and hear tried and tested methods for reorganising underwriting teams to start developing future skills and capabilities now

  • Debate the prediction that underwriters will soon contribute significantly more value to  prospecting, sales pursuit, account retention and account servicing, and explore scenarios for brokers and underwriters collaborating more effectively to develop bespoke risk management solutions for clients

Tackle Unsustainable Operating Expense Ratios With Intelligent Automation

  • Leverage automation to eliminate the repetitive and tedious tasks of manual data entry into fragmented silos across multiple systems, and transform workflows to free up staff to focus on complex, customer-facing and revenue generating tasks

  • Hear tried and tested methods for identifying the right processes to automate, and tap into the latest industry knowledge on the quickest wins as well as the long-term plays with the most transformative potential

  • Identify which tech-driven business strategies can improve profitability and drive growth for commercial lines, and discover how automation is being harnessed to tackle distribution and administration costs along a complex value chain

  • Accelerate productivity by aligning back-office efficiencies with front-office innovation, and discover how the automation of reminders, document creation and processing, and fetching and updating records empowers staff to deliver quick, slick, and error free client services at a fraction of the time and cost

Explore The Business Case For Commercial Claims Automation

  • Leverage innovations in high volume, standard and homogenous personal lines claims to build a digital claims experience for commercial clients, and discover which routine elements of larger losses are ripe for automation, eg, first notice of loss, review of invoices, assessment of service providers

  • Harness the latest visual intelligence to assess and settle claims without the need for on-the-ground loss adjusting, and understand how drones, satellite and aerial imagery can deliver a loss estimate within hours allowing for more accurate loss reserving that is not reliant on models

  • Prepare for the emergence of parametric products and predict and prevent propositions, and debate the impact this will have on the operational complexity of claims handling and the requisite skills of claims handlers

  • Review your claims cost base line by line, and discover what it takes to create a segmented operating model that triages claims and allocates technical and human resources appropriately

  • Review the evidence that automation leads to significant cost savings by reallocating senior claims resource to higher value tasks, and share tactics for shortening the payback period for claims transformation projects

Execute Data-Driven Pricing Decisions For Commercial Lines

  • Identify ways to integrate emerging technologies and new sources of data into the pricing process, and explore the potential for more quantitatively grounded pricing decisions for complex commercial risk

  • Move beyond applying discounts or loadings to a benchmark price generated by existing pricing models, and build a more accurate basis for pricing decisions in the future

  • Harness data-driven insights to prevent the systematic under-pricing of low frequency and/or emerging risks, and tackle contexts of limited statistical information by applying external data, eg, market averages, territory data, and estimated claims losses data, to perform contextualisation practices and construct competitive pricing

Intelligent Automation For Core Commercial Lines

Leverage Technology To Transform The Future Of Marine Insurance

  • Hear real-world examples of how marine insurers are harnessing automation to improve the reliability of vessels and reduce frictional operating costs, while also facilitating safe operations and ultimately lowering risk

  • Develop a strategy that enables the effective organisation of internal data to support the development of new analytics insights and capabilities, and secures access to external data that enriches and complements internal datasets

  • Get up to speed with the latest tools available to enable underwriters to select and monitor vessels and build a high performing well-diversified insurance portfolio

  • Debate the cost-benefit scenario of a blockchain-based overhaul for marine, and explore how smart contracts could simplify the settling of premiums, the payment of claims, and enable shippers to track assets and share data with brokers and insurers, and for insurers to track their exposures in near-real time

Exploit The New Data Ecosystem For Cargo Insurance 2.0

  • Get to grips with the new data landscape unleashed by the internet of things (IoT), and identify which types of cargo could benefit from new IoT data points (eg, temperature, humidity, and light) to monitor the condition of shipped goods

  • Discover how sensor data creates new opportunities to understand and mitigate risk, and hear the latest use cases for leveraging data-driven insights to pinpoint the cause and/or location of loss, actively prevent loss, and provide enhanced products and services for clients

  • Explore the potential of blockchain to introduce new efficiencies to paper-heavy operations, and get to grips with how smart contracts can provide a secure, private network to connect all parties involved in the placement of risk

Enable Data-Driven Risk Management For Commercial Property Insurance

  • Tackle wafer-thin margins of profitability in the property book with a combination of cutting-edge technology, advanced analytical tools, and insurer-client-broker collaboration

  • Debate the limits of cat modelling including the systematic underestimating of some extreme weather events, and understand where to focus qualitative, local, and human insights to inform complex coverages such as business interruption

  • Get to grips with how data-driven risk management can drastically minimise attritional loss, and hear how insurers are working with their clients to combine wireless and integrated smart building technologies with real-time analytics to pre-empt problems and deploy rapid remedial action

  • Explore the non-traditional business models enabled by cross-industry partnerships, eg, usage-based insurance, parametric-based propositions, and insurance as a service, and hear what works to encourage policyholders to share granular data with brokers and insurers

Harness AI To Supercharge The Cyber Insurance Market 

  • Tackle the fast-evolving nature of cyber risk with real-time insights that are continuously updated to reflect changes to the cyber threat landscape

  • Overcome a lack of historical data with public, open-source, proprietary and third-party data to augment and validate underwriting cyber risk

  • Leverage AI-powered predictive risk scenario models to better understand the cyber risk associated with a company or portfolio