Gain a competitive digital edge for your insurance firm
Free workshop | Art of the Possible
The role of IT in insurance is rapidly evolving to meet new strategic demands and facilitate significantly more efficient ways of working.
Yet knowing where to focus your efforts isn’t always straightforward, especially when your time and resources are focused on day-to-day operations. That’s why we’ve designed this free workshop, enabling you to:
Gain clarity on your current IT infrastructure, its weaknesses and strengths
Discuss your primary challenges with seasoned subject matter experts
Plan out a roadmap to drive transformation and deliver tangible results
Spaces are limited so reserve your spot today and take your next step towards the art of the possible.
Our experts will run you through 2 sessions:
Information gathering (1 hour)
Thought collation and roadmap suggestions (2 hours)
Register your interest
Tailored guidance from our subject matter experts
Meet our expert: Dylan Foster-Edwards
Dylan is an experienced technologist with over 30 years in the IT industry, with a particular focus in the services reseller channel for the past 20 years. He heads up the Advania UK Pre-Sales team, who will help deliver your Art of the Possible workshop.
Initially qualifying as an electronics engineer, Dylan made the move into IT as an engineer, building his experience to a Consultant, Architect and Chief Technologist in a number of organisations, including CSC, Fujitsu and Computacenter across a number of customers and sectors.
He then moved into a leadership role when joining Softcat in 2016 to build an advisory and architecture function to further improve the technical breadth and capability of the organisation. His passion is in building a capability that better supports the business and its customers to drive outcomes and become a trusted advisor with the technology and capability of the organisation.
Outside of work he is a keen cyclist with a number of cycling tours in France, Italy and Spain, together with trying to beat his son at indoor karting and the odd game of golf when he gets a chance. He is married to Jess and has a daughter Olivia and son Joel together with dogs Bertie and Joni.
Research from WTW shows that London-based firms investing in technological changes achieved a six-point outperformance advantage over those that have been slower to innovate during the market’s ongoing modernisation.1 Looking at the UK as a whole, 63% of insurance firms are now investing in AI and machine learning, compared to just 50% in the US.2
How tech can help insurance firms
After consulting with our clients in the Lloyd's of London market, we’ve identified four critical areas that insurance firms should prioritise when evaluating or planning their IT strategies. These key areas can be addressed in your assessment; however, the evaluation will be entirely tailored to meet your specific needs, focusing on what you deem most important for your organisation.
Operational efficiency
Artificial intelligence
Data strategy
Security, risk and compliance
Operational efficiency
Being more efficient means different things to different organisations. For many, it could mean cost control, however, achieving greater efficiency isn’t just about slashing budgets – it’s about leveraging the right technology to create smarter, faster and more reliable processes.
Deep research has been conducted into Lloyd’s market efficiency, with a recent INJFE study suggesting the potential for insurers to improve their financial performance by 40% for cost efficiency and 70% for profit efficiency.*
Artificial intelligence
Being more efficient means different things to different organisations. For many, it could mean cost control, however, achieving greater efficiency isn’t just about slashing budgets – it’s about leveraging the right technology to create smarter, faster and more reliable processes.
Deep research has been conducted into Lloyd’s market efficiency, with a recent INJFE study suggesting the potential for insurers to improve their financial performance by 40% for cost efficiency and 70% for profit efficiency.*
Data strategy
Research from McKinsey shows that advanced data analytics can enable insurers to improve loss ratios from three to five points, while also increasing both retention rates and new business premiums from 5% to 10% on average.
Accurate data can help support your firms underwriting process, but first, the data must be accurate, organised and accessible.
Security, risk and compliance
The risk posed to operations by cyber crime remains the greatest threat facing the global insurance market over the next two years, according to PwC’s latest report on industry risks.
Does your firm have an incident response plan that can help you in response to cybercrime? Protecting your data should be mission-critical, and you can only succeed if your IT structure and governance work with your technology.
Whether you seek to understand how the IT department can align with your firm's strategic goals, explore the potential of AI to benefit your organisation, or addressing any other challenges, this workshop is tailored specifically to your needs.
