Insurance Revolution: How AI is Transforming the Underwriting and Optimizing Business Processes
- 24 April 2025
- IKNB
- Online
Background
- The global insurance industry is currently at a significant transformational point, driven by rapid advancements in digital technology and the adoption of Artificial Intelligence (AI). These developments not only impact operational efficiency but also fundamentally reshape the way the industry conducts its business processes.
- One of the areas experiencing the most significant impact is the underwriting process. With AI’s capability to analyze large-scale data in real time, insurance companies can now accelerate risk evaluation processes, enhance decision-making accuracy, and minimize the potential for human error. This data-driven approach also enables the identification of risk patterns and trends that were previously difficult to detect using conventional methods.
- The implementation of AI in the insurance industry spans various strategic functions, including fraud detection, claims process automation, product personalization, and risk prediction based on customer behavior. This transformation is a response to the growing demand for efficiency, faster services, and customers’ expectations for a seamless and transparent digital experience.
- Business processes in the insurance industry encompass critical stages such as underwriting, policy issuance, premium payment, claims management, investment management, as well as policy renewal and adjustment. Through the proper utilization of digital technology and the strengthening of risk management systems, the insurance industry can enhance business process effectiveness while reinforcing resilience and competitiveness amid ongoing technological disruption.
- Recognizing the importance of a deep understanding of these dynamics, we are presenting a webinar on the topic "Insurance Revolution: How AI is Transforming the Underwriting Process and Optimizing Business Processes". This webinar will serve as a discussion forum with competent speakers who will explore practical and comprehensive strategies for implementing AI within the context of the insurance industry.
- Through collaboration between industry players, regulators, and technology providers, AI-driven digital transformation can serve as a key catalyst in propelling the insurance industry toward a more adaptive, innovative, and sustainable future.
Objective
1. To provide participants with an understanding of the challenges and opportunities of Artificial Intelligence in the insurance industry.
2. To offer in-depth insights into the utilization of Artificial Intelligence in the underwriting process and the optimization of insurance business operations.
3. To encourage insurance companies to continuously innovate and adapt to technological advancements in order to deliver more efficient, transparent, and high-quality services.
4. To provide insights on how Artificial Intelligence (AI) is transforming the underwriting process and enhancing operational efficiency in the insurance industry.
Participant
Pimpinan dan Pegawai OJK, Perwakilan Industri Jasa Keuangan, Akademisi dan Masyarakat Umum
Speaker
-
Franciskus Antonius Alijoyo (Founder and Principal of CRMS Indonesia & Independent Commissioner of Tokio Marine Life Insurance)
-
Mr. Vikas Sinha (Vice President Director PT Prudential Life Assurance)
-
Mrs. Monalisa Samal (Executive Vice President, Data Analytics Xceedance)