FST Media

We're thrilled to have Charles Pizzato, Executive General Manager of Technology Infrastructure at Suncorp Group, presenting at the Future of Financial Services Sydney! Charles will dive into how Suncorp’s cloud and technology strategy is delivering real-world outcomes for customers and driving the future of financial services. Join us on October 24-25 at ICC Sydney for the largest event of its kind in the Southern Hemisphere, packed with insights that could transform your IT strategy and drive innovation. Don’t miss the chance to hear from industry leaders and take your organisation to the next level. Register now: https://lnkd.in/gy-ur2Ev #FOFSSYD #FSTMedia #Suncorp #CloudStrategy #DigitalTransformation #ITLeadership #FinancialServices

Thankyou to our incredible sponsors for making the Insurance Summit Sydney an exceptional success yesterday. Your dedication and support allowed us to deliver a day filled with insightful presentations and invaluable networking opportunities among industry pioneers and thought leaders. DIAMOND LEAD: Tungsten Automation GOLD: Adyen | Dataiku | EPAM Systems | SAS

We just closed out our Insurance Summit with a captivating keynote by Justine Cameron, GM of Legal at AIA Australia. Her talk, "The Future of Insurance: Management of Risk, Not Risk Management," offered invaluable insights into the evolving landscape of risk management. Justine highlighted the need for a dynamic, integrated approach to managing risks in our increasingly interconnected world. She discussed how rapid technological advancements and evolving regulations are driving new strategies in risk management. Emphasis was placed on creating robust plans that address both internal and external dependencies, ensuring business continuity through disruptions. Her insights into leveraging critical operations process maps and fostering clear ownership in risk management are set to redefine industry standards. A huge thank you to Justine for delivering such an insightful and impactful session! #InsuranceSummit #RiskManagement #FutureOfInsurance

Today, we hosted a compelling panel discussion on Accelerating Your Business Transformation featuring Craig Price (Suncorp Group), Karen Jones-Gudmunson (Tokio Marine Group), and Willem Paling (IAG). The discussion offered valuable insights into the evolving role of data science, advanced analytics, and AI in driving operational excellence. Here’s what emerged: > Driving Operational Excellence: The panel emphasised how leveraging data science and AI can significantly enhance operational efficiency by streamlining processes and reducing inefficiencies, ultimately improving the overall customer experience. > Balancing Innovation with Caution: There was a strong focus on the prudent adoption of generative AI. While the technology holds great promise, it’s essential to implement it with clear boundaries to support, rather than replace, human decision-making. > Transformative Strategies: Effective business transformation requires a strategic approach. The discussion highlighted the need for organisations to adapt swiftly to technological advancements while securing support from leadership and demonstrating tangible outcomes. > Evolving Tech Landscape: The panel explored how rapidly evolving technologies impact business strategies. Emphasising the importance of staying agile, they discussed the challenges and opportunities presented by new AI models and advanced analytics. A big thank you to our panelists for their enlightening perspectives on using data science and AI to propel business transformation! #FSTMedia #InsuranceSummit

Today’s panel on Meeting Evolving Consumer Expectations Through a Customer-Centric Digital Transformation featured insights from industry leaders Jenny Nguyen (TAL Australia), Prakhar Rawat (Tokio Marine Group), Sid Baidwan (Suncorp Group), and Tom Kimpton (Bupa). Key takeaways revolved around the importance of balancing AI advancements with customer experience. While AI and digital tools are transforming the insurance landscape, each panellist emphasised the need to focus on what truly matters: enhancing customer interactions and ensuring technology serves the customer, not the other way around. Noteworthy insights included: > AI is a complement, not a substitute for human touch—Sid Baidwan stressed that it’s not about overwhelming customers with tech but using AI to streamline interactions and improve engagement. >Prakhar Rawat highlighted the importance of respect for legacy systems while pushing forward with digital transformation, ensuring data governance and speed remain a priority. > Jenny Nguyen underscored that digital transformation goes beyond tech—business transformation and customer transparency are essential for long-term success. > Tom Kimpton encouraged prioritising customer experience and loyalty in the face of AI’s rapid rise, emphasising the need to solve for the customer first, and tools second. Thank you, Jenny, Prakhar, Sid, and Tom, for the valuable discussion and for sharing your expertise on transforming the insurance industry with a customer-first mindset! #InsuranceSummit #FSTMedia MC'd by Steve Browne

Pavel Gimelberg & Raphael P. Young from EPAM Systems just finished delving into the transformative power of Generative AI and automation in their session, where they emphasised the modernisation of legacy systems and the rise of embedded insurance. They highlighted how AI is streamlining processes across the insurance lifecycle, from underwriting to claims, making operations more efficient and significantly reducing costs. For companies starting on their AI journey, the advice was clear: focus on automating the most resource-intensive tasks to see immediate benefits. Thank you, Pavel and Raphael, for sharing your forward-thinking perspectives! #FSTMedia #InsuranceSummit

In his session earlier today, Greg Crowl from Tungsten Automation explored how AI is revolutionising claims processing through a combination of ML and NLP—technologies that have been evolving for decades. He also introduced generative AI, emphasising how its accessibility and rapid acceleration are transforming the insurance industry. Key takeaways: > AI isn’t just a buzzword—it's integrated into real-world business strategies to improve decision-making and speed up processes. > With automation tools, manual claims processes are replaced, enabling faster, more accurate assessments. > The introduction of Copilot for Development allows insurance providers to quickly iterate and prototype claims processes, reducing development time and enhancing efficiency. Greg's message was clear: Don’t just adopt AI for AI's sake—centralise it within your existing business processes and make it actionable. 👀 Watch this space as AI continues to shape the future of insurance! #InsuranceSummit2024 #AIinInsurance #ClaimsProcessing #Innovation #MachineLearning #GenerativeAI

At the Insurance Summit 2024, our panel of industry leaders shared a unified vision of transforming the insurance sector through digital innovation. Some of the key takeaways from this discussion were: > Digital Integration is Crucial: Whether it’s AI, cloud solutions, or omnichannel experiences, integrating advanced technologies into the core strategy is vital. Anthony R Brown from NobleOak and Suzi Leung from Hollard Insurance both emphasised that technology should enhance, not just add to, the business strategy. > Customer-Centric Innovation: Justin Sebire from Cover-More Group and Anthony R Brown discussed how innovation should enhance the customer experience. Cover-More’s "more care, more cover" approach and NobleOak’s emphasis on a seamless digital interface underline this commitment. > Board Support is Essential: The panelists agreed that securing board support for innovation is crucial. Fiona Hayes-St Clair and Justin Sebire both noted that having the board’s backing helps in prioritising investments and navigating the transformation journey effectively. > Adaptability and Testing: Embracing change and testing new technologies before full-scale implementation are essential steps. Anthony R Brown and Suzi Leung both emphasised the need for adaptability and a clear point of difference in a rapidly evolving market. Thank you to our insightful panelists for sharing these key perspectives and our MC Steve Browne for moderating this session! 👏 #FSTMedia #InsuranceSummit2024 #DigitalTransformation #TechInInsurance #InnovationInInsurance

Tony Craddock , CIO of Intermediated Insurance & EGM Technology Strategy at IAG, kicked off the Insurance Summit 2024 this morning by detailing IAG’s extensive business-led technology transformation, which began in 2017. This effort was not just about replacing core systems but achieving outcomes that drive real business value across both front-end and back-end operations, with data as the backbone. Some of the key achievements that highlight this transformation include: > 2M customers onboarded: reflecting the success of IAG’s customer-centric platform strategy. > 10% increase in digital channel share: Now at 58% for home and motor policy sales, driven by IAG’s focus on enhancing digital experiences and leveraging data. > Consolidation of thousands of product variations into just 16: A significant step in product harmonisation, improving efficiency and customer experience across the business. > Streamlining claims systems from 16 to 1: Improving claims resolution times and enhancing digital lodgement and tracking capabilities, a testament to IAG’s focus on operational outcomes. > Decommissioning 289 legacy applications: Demonstrating their commitment to modernising technology infrastructure and simplifying operations. > 1.2M hours of work saved through Robotic Process Automation (RPA): An example of how scaled automation has not only improved productivity but delivered $65M in value since 2020. Tony’s advice? Be flexible with long-term plans, keep board sponsorship persistent, and build momentum through success. A big thank you to Tony for sharing these insights! 👏👏 #InsuranceSummit2024 #FSTMedia #IAG #Innovation #TechnologyTransformation

Be part of the conversation, hear the challenges that ICT leaders face in the BFSI market. If you are looking to sell a tech solution to banks, insurers and financial leaders in the near future - your chances increase dramatically if you are seen to be actively engaging with them consistently and effectively. Be part of the consideration set from the start, reach out to my team to create an opportunity tailored to your KPIs.