Guido Romani, Senior Advisor of Kube Partners, has participated in the last edition of the Insurance Week in person – after two years in virtual form. We have asked him to share the two key messages that each should take away from this critical demonstration.
“I have perceived a clear sensation of a profound transformation that is taking place in the insurance sector and its actors.
If the concept of digitalization has been in the air for a few years without nuance in a specific direction, I have seemed to recognize a greater concretization of the use of technology, marking not only the way to make insurance also the way of being its operators. And this digital transformation finally materializes in the massive use of Artificial Intelligence.
Whoever has participated in the congress will surely have noticed the wide range of solutions, all very innovative. Solutions that ultimately provide real added value in conjunction with the human factor are also destined to experience changes shortly. The use of this technology is offered as a support of each aspect of the daily tasks of a company: from the analysis of the documents to the management of claims, from price setting support to the integrated management of a brokerage.
We are in a changing world that evolves at great strides and will not stop changing. These changes continuously generate data that constitutes the most coveted asset by insurance companies that have the requirement to process an exponential increase in information. AI is presented as the true panacea for treatment, processing and business management in the most efficient, structured and, of course, contextualized way. And the pandemic has undoubtedly contributed to accelerating this process.”
Kube Partners has been one of the first operators in the industry to develop new solutions for the insurance industry, exploiting the use of Artificial Intelligence for multiple services, covering the entire life cycle of claims, with deep experience in detection of fraud, thanks to the renowned Detector System.
In addition to the urgency of implementing the full power of Artificial Intelligence in all aspects of the insurance industry, Guido Romani mentioned another critical issue that emerged during the Spanish congress:
“I think it is worth highlighting the issue of how companies live and interpret the theme of sustainability: many interesting thoughts presented by the highest positions in the sector, from which I have learned that sustainability is not experienced in the form of competition, since “it is not a race to see who is greener”.
As a social actor, insurance must serve as an example in terms of sustainability, generating the necessary confidence to look towards a future in a safer environment, thinking of people and society. And in this context, the role of technology has been mentioned, as an essential tool to achieve the objectives of efficiency and resilience in a sustainable environment.”
Kube Partners is a trusted advisor to many players in the financial industry and is aware of the effort required to lead the way and make substantial efforts to reduce climate impacts and protect the environment, always keeping an eye on the latest developments and practices to reduce our climate footprint.
If you would like to discuss any of these aspects with our experts, you can contact Guido Romani and our team.
We will be delighted to hear from you.