A cautionary tale for leaders of Insurance companies.
Digital transformation is not just about frothy new technologies or AI & big data.
More often it's about tackling digital transformation of some very basic gaps and flaws. Might be boring but it's vital to tackle these,
All in the attached article
But eventually at an interview a year later she had to face the new CDO who came from a competitor that embraced “Insurtech”. She knew that fraud inspectors use past experience, intuition and what facts they can glean to flag likely fraud. In the UK, vehicle accident claims are made on standard “Claims Notification Forms” – the CNF. These include structured data in recognisable fields plus free-text boxes that contain a wealth of information not analysed by insurance companies. if the fraud inspector noticed a suspicious looking CNF she should be able to immediately analyse all the data in CNFs past and present. The CDO decided to ask how the head of fraud would tackle the following situation.
