Insurers, reinsurers and intermediaries are under pressure to adapt to new customer expectations. Insurtechs have made omnichannel digital experiences the norm. And COVID-19 has forced the issue further, on top of necessary operational and claims process changes. Digital transformation is no longer a buzzword or something that can fix just one area of an insurance organization.
How was that credit application declined? Why was that person denied parole? How were disability benefits cut for those constituents? And why do computers learning from humans automatically see certain occupational words as masculine and others as feminine? It’s hard to explain how the most advanced algorithms make decisions. But as predictive systems proliferate, there are signs we’ve become more wary of their use in making critical decisions.
In 2020, low-code application development went mainstream. Organizations everywhere prioritized the ability to rapidly adapt, making the Low-Code Application Platform (LCAP) an essential part of the enterprise technology stack. Low-code may be everywhere—but many IT and development teams are failing to reach its full potential. Ironically, they’re running low-code projects with traditional, high-code development practices.
The insurance industry is among those most impacted by the COVID-19 pandemic. Claims are likely to top €190 billion in 2021, according to reinsurer Lloyd’s of London. However, the pandemic did not fire the starting pistol in challenging insurers to transform, although it has amplified the issue. You can read more about the challenges specific to this sector in a recent interview with Gijsbert Cox, EMEA Insurance Industry Leader at Appian.
There’s a lot of hype out there about artificial intelligence (AI) and how it’s revolutionizing this or transforming that. But in this timely remix of a previously published post, AI expert Joanna Bryson (@j2bryson) calls out AI hyperbole and helps us cut through the smoke and mirrors on: Note: Bryson is Professor of Ethics and Technology at the Hertie School of Governance in Berlin where she educates future technologists and policymakers on digital inclusion and AI governance.
After nearly a year of dealing with COVID-19, organizations like yours have learned a lot of lessons. Lessons you didn’t ask for, and maybe never wanted to learn. But important lessons that help you protect employees as you get back to onsite work, whenever that may be. Read on for three key takeaways from companies handling COVID-19 cases in the workplace, from the best way to manage contact tracing to the importance of establishing a single response hub.
As young children, our parents do their best to protect us from harm. We’re taught not to play in the road or speak with strangers. As we grow and our environment changes, these foundational lessons guide us even when we are old enough to know better than to touch a hot stove.
At Appian, we are driven to make it faster and easier for you to build applications that help you run your business more efficiently. We obsess over finding new ways to empower you to get more value from your systems and data to maximize your resources and improve your business results. That’s why we are thrilled to be designated a Gartner Peer Insights “Customers’ Choice” for Enterprise Low-Code Application Platforms (LCAP) for 2021.
Technology drives change but change has become particularly frenetic in the last decade. This trend, says Fintech expert Chris Skinner, is partly inspired by the global financial crisis, but equally enabled by the digital revolution. “I am a technologist,” says Skinner “and have spent all of my career looking at how technology might change the future of finance and financial services.
Insurance legacy systems are often seen as one of the biggest barriers to speeding up innovation and digitalization. And the COVID-19 pandemic has made even clearer how important it is to be able to respond quickly to changing conditions, and a less physical world. So how can insurers make the most of their legacy systems and avoid creating new ones in the process?
We live in a world where FinTech automation is forcing traditional banks to move faster and deliver better customer experiences. This new world demands a completely different business model from traditional financial institutions.
