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Nov 112017
 

So far, I’ve talked about the specifics of Claims, Underwriting and Pricing, and Product Development—but I haven’t really talked about the back office administration functions.

If you’ve been with me so far, you won’t be surprised to hear that I think AI, robotics, and other automated systems will transform those functions as well, and empty them of people.

The Insurer of the Future will reorganize its back office using automation—but it will do so “smartly.” By smartly, I mean that it will figure out how and where to automate to gain the greatest commercial benefit.

Some processes will need to be transformed by using stronger, more automated, core systems.

Some processes, or sub-processes, will gain most from the use of AI/cognitive capabilities: chatbots, vocalbots, machine learning, recommendation engines, etc. And any gaps might best be filled using robotic process automation (RPA) or even non-technology tools such as Lean.

There will be instances where it makes sense to use more than one of these techniques—perhaps capturing short-term efficiency gains through interim RPA of a sub-process, while a more comprehensive longer-term solution is being developed.

The source of success for the Insurer of the Future, however, will be figuring out (smartly) exactly what to apply where, and in what order, to create the highest return on investment.

Please see Part 9—Human Capital for further predictions.

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SIMILAR JOBS ( NEWEST )
JOB INTERVIEW
Tipical Questions
Describe A Time When Your Team Did Not Agree Questions pertaining to difficulties in the past are a way for employers to anticipate your future behavior by understanding how you behaved in the past and what you learned. Clarify the situation succinctly and explain what specific action you took to come to a consensus with the group. Then describe the result of that action.
Questions to ask
What can you tell me about your new products or plans for growth? This question should be customized for your particular needs. Do your homework on the employer’s site beforehand and mention a new product or service it’s launching to demonstrate your research and interest. The answer to the question will give you a good idea of where the employer is headed.