One of the key trends predicted for the insurance sector is the rise of digital ecosystems, a technology strategy that emphasizes best-of-breed components covering each major function in insurance using APIs, microservices, as well as web services.

So which technology will likely have a near-term impact for insurers as they grapple with evolving regulations and maturing technologies?

In this PodChats for FutureCIO, we speak to Sourabh Chitrachar, Regional Vice President/ Director- Asia Technology Strategy & Operations, Liberty Mutual Insurance, on the topic of strategic priorities for insurers in 2022.

It is anticipated that 2022 will likely see new use cases for artificial intelligence in insurance.

1.       Aside from security, what were the key operational challenges heads of technologies faced in Asia?

2.       Which approaches (technology and operations) have proven most effective in helping insurers survive/thrive during the crisis?

3.       What is your opinion on Open Insurance and how do you see this trend evolving in Asia?

4.       We are seeing a growing interest in ESG. How do you see this initiative being adopted in Asia’s insurance sector?

5.       What should be the focus of the office of the CIOs in 2022? 

For some time, insurance and innovation were not seen as two concepts that go hand-in-hand. COVID-19 showed that insurers can undertake large-scale change at a pace industry veterans might have thought possible. 

In its “2022 Global Insurance Outlook: Growing with people, purpose and tech”, EY predicts insurance poised for a period of purposeful growth, despite daunting macroeconomic and structural challenges, fierce competition and ongoing tech-driven disruptions.

Just how insurance is redefining itself in a period where uncertainty is the norm, is the subject of our dialogue with Sourabh Chitrachar, Regional Vice President/ Director- Asia Technology Strategy & Operations, Liberty Mutual Insurance.

He joins us on this episode of PodChats for FutureCIO to give his insights on how the insurance industry is moving ahead with its resilience and innovation agenda in the new normal.

1.       If you look back, how would you describe the security landscape within the insurance sector in ASEAN between 2020-2021?

2.       In your view, what are the challenges ahead for CISOs and CIOs in the insurance sector in 2022?

3.       Among the many emerging technologies, which technologies do you think are (a) overhyped; (b) under-used/underappreciated by the insurance industry?

4.       Can you cite 3 trends that will be most impactful for CIO-CISOs in Asia’s insurance sector in 2022?

5.       What is your advice for CIOs and CISOs in the insurance sector in advancing resilience and innovation in 2022?

In the article, What Is Web 3.0 & Why It Matters, Fabric Venture partners, Max Mersch and Richard Muirhead, wrote that whereas “Web 2.0 was driven by the advent of mobile, social and cloud, Web 3.0 is built largely on three new layers of technological innovation: edge computing, decentralised data networks and artificial intelligence.”

They also postulated that the shift to Web 3.0 is spreading the data centre out to the edge. “Large legacy data centres are being supplemented by a multitude of powerful computing resources spread across phones, computers, appliances, sensors and vehicles which are forecast to produce and consume 160 (!) times more data in 2025 as compared to 2010 (Ocean Protocol Research).”

Gartner analyst Avivah Litan says Web 3.0 will transform us from Web 2.0’s monetization via surveillance capitalism and advertising to monetization built directly into the protocol that is equally available to any connected user.

In this PodChats for FutureCIO, we speak to Ulyses Ty, Head of Applications Services, Asia Service Centre, Sun Life Financial, for his take on where Web 3.0 will take the enterprise and how IT leaders will drive the adoption of Web 3.0 in the enterprise?

1.       What is your definition in of Web 3.0?

2.       How do you see Web 3.0 supporting calls for innovations that support sustainability and resilience?

3.       Why is Web 3.0 not yet here (not sufficiently mature to draw serious discussion at the Board and C-suite level)?

4.       From your perspective, where do you see are the low-hanging use cases of Web 3.0 based on currently available technology?

5.       How do you see security and privacy evolving in Web 3.0?

6.       In all these developments, how do you see the CIO and IT leadership helping to steer the integration of Web 3.0 into the organisation’s evolving use of IT?

7.       Into 2022, how do you see Web 3.0 shaping the industry?

Michael Araneta, AVP, IDC Financial Insights Asia/Pacific commented that "A recovery is afoot, putting pro-growth themes, such as customer centricity, cross-selling and up-selling, and customer loyalty, squarely back on the agenda. 

Aaron Press, research director, IDC Financial Insights, added that even with the remaining uncertainty, we see financial services across the spectrum looking forward, leveraging their transformative efforts, and moving on to deal with the challenges of the future.

So, what can we expect in 2022? And how should the CIO and leadership at banks in Asia, build upon the lessons of the past to create opportunities for the future?

In today’s PodChats for FutureCIO, we are joined by Niels Maerkedahl, Global Technology Lead for Business Banking, Standard Chartered.

1.       What are the key business trends facing banks in Asia in 2022?

2.       What are the top three challenges facing banks in Asia in 2022?

3.       Which three technologies present the greatest opportunity for banks in Asia in 2022?

4.       Forrester says for 2022 banks will double down on innovation. Two key strategies were raised: future-fit technology and accelerate end-to-end digital transformation. Can you share your perspective on this prediction/analysis?

5.       Gartner for its part says business composability will be important to banks in 2022. Can you share your interpretation of this recommendation by Gartner?

6.       As a technology practitioner, what will be important issues for you in 2022?

Jay Forte is President and Founder of The Forte Factor and Certified Executive Coach, wrote in a blog that things have changed for many organizations from how they do business to how work is done. He added that while many feel compelled to return to the way things were before COVID-19, this isn’t possible.

Many of the things that previously filled our days have been replaced with things we either never thought possible or thought we would get to someday, like workplaces with fully remote employees, touchless contact, effective video sales calls, home delivery of nearly every product, and even remote doctor visits.

He opined that to be successful in a constantly changing global environment, an organization needs to be responsive, resilient and ready. I believe one more action is missing from the list – to be relevant.

In today’s PodChats for FutureCIO, we speak to Sumit Nurpuri, Chief Operating Officer of Capgemini Southeast Asia, Hong Kong & Taiwan, to get his perspective on what it means for organizations to be resilient, responsive and relevant.

1.       Define for us what it means to be relevant, responsive and resilient in the post-pandemic normal.

2.       Is it possible to achieve relevance, be responsive and resilient without necessarily undertaking some form of transformation? 

3.       There are many priorities for business leaders today, including these three Rs. Where to start and how do you avoid breaking the bank and staying focused?

4.       Most businesses survived the roller coasters 2020 and 2021. Any one lesson in support of the three goals?

5.       Are business leaders in Asia able/ready to pivot and transform?

6.       What is your advice for business, operations and IT leaders for 2022? [I need to revise this]

The term “skills gap” refers to the bridge between the skills that companies need from their employees, and those that are actually available from workers. In the digital-first or digital-native era, this gap is fuelled by a combination of factors including advances of automation, AI and other technologies, along with candidates lacking the skills needed to interact with these new tech innovations. 

These advancements have changed day-to-day operations, and upskilling programs at many organizations have yet to catch up. The result is a widening skills gap that can take a toll on company performance as well as employee confidence and productivity. 

So, the skills gap of the future is two-pronged; organizations seek IT staff to fill the need for both interpersonal/soft skills and technical/hard skills. According to CompTIA, 79% of organizations are pursuing initiatives to address these gaps amid a tightening market for IT labour. 

In today’s PodChats for FutureCIO, we are joined by Suresh Sambandam, CEO of Kissflow, for his take on the future of application development with or without code. 

1.       Given the hundreds or thousands of STEM graduates in Asia. In 2016, the World Economic Forum estimates that China alone produces 4.7 million STEM graduates a year. Do we really have a skills gap today? (or are businesses being so picky, we do end up with a shortage of the right skills alongside rising unemployment?) 

2.       The idea of applications without programming has been an evolution as far back as 1954 with the programming language called autocode. Next one was Apple’s HyperCard in 1987, and today’s low-code, no -code platforms. Describe for us what LC-NC platforms offer today? 

3.       Do you see LC-NC as addressing the current skills shortage? 

4.       For old programmers, will LCNC spell the end of their cushy jobs? 

5.       By the way, how would you differentiate between low code and no code platforms? 

6.       For decades there is a divide that exists between IT and the rest of the organization. Do you see LCNC as bridging that divide? 

7.       We are into 2022, what is your advice to (a) IT leaders and (b) business leaders around strategies to alleviate the IT skills shortage? 

8.       So in all of these, what does Kissflow do? 

For many people in the supply chain ecosystem – from manufacturing on one end all the way to the consumer at the end other – the period of 2020-2021 is arguably one of the most tumultuous in modern history.

If you think, however, that it's smooth sailing from here on, you will be disappointed. How governments are responding to the omicron variant of COVID-19, continued geopolitical tensions around the world, and ongoing disruption to international air cargo and cross-border movements are just a few of the growing list of conditions that conspire to keep participants in the ecosystem at their toes.

On the bright side, Collier’s 2022 Global Investor Outlook Report is spinning a positive outlook for the industrial and logistics industry forecasting a rebound in investments in 2022. 

With us today is Soham Chokshi, Founder and CEO of Shipsy, a logistics technology provider, to talk about how the modernization of the supply chain ecosystem may well influence the growth or not of the industry.

1.       Give us the 30-second elevator pitch of who Shipsy is?

2.       How would you summarise the state of the logistics industry between 2020-2021?

3.       Give us a high-level summary of the 10 key trends in the logistics industry for 2022.

4.       Which of these trends when combined will influence how industry players push forward their end-to-end logistics automation ambitions?

5.       Given that the end-to-end logistics industry is not a handful of global companies but a broad mix of small, large and multinational organisations, how do you foresee efforts to introduce process efficiency through such things as automation going? 

6.       We may be repeating the question but does the industry leverage technology to scale hyperlocal on-demand delivery operations?

7.       One of the buzzwords of 2021 is the pursuit of ESG – environmental, sustainable and governance initiatives. Within the logistics industry, how should leaders translate these into practical programmes that work?

8.       Are you optimistic that things will be better for the logistics industry in 2022?

9.       Given the many operational issues they face, and the many options they can pursue to survive and thrive in 2022, what is your one advice to leaders for 2022?

According to Gartner: “Organizations are accelerating digital transformation processes for long-term growth and profitability. Yet: “53% of the organizations surveyed remain untested in the face of digital challenge and their digital transformation readiness therefore uncertain.”

With us today is Elaine Zhou, CEO, CNEW International to share with us her views on the qualities that make up a stand-up leader for the new still-digital, post-pandemic normal.

1.                   Describe for us how leaders behave prior to 2020?

2.                   For much of 2020, how did they respond to the pandemic?

3.                   Can you name three leadership lessons in 2021?

4.                   What is your prediction for 2022?

5.                   How do / should leaders lead in 2022? (around people, partnerships and technology)

For decades industrial operations have used sensors to automate parts of the processes. In many cases, the automation was mainly in the collection of telemetry data. Most processes still required human interaction to push things along.

In recent years, the convergence of IoT technologies with machine learning, artificial intelligence and cloud, along with automation, have raised the possibility of putting smart IoT technology into business processes or workflows with the idea of automating these with minimum human intervention.

In today’s PodChats for FutureIoT, we speak to Seth Ryding, chief sales officer (CSO) Global Sales, Telenor Connexion, to talk about integrating IoT into modern business processes. 

1.       In the context of a typical business operation – for example, a financial institution, hospital or government – what is the business value of IoT?

2.       How do business and operations leaders in these organisations see IoT? Any preconceived ideas that may hinder the adoption of IoT in business processes?

3.       For CIOs and heads of IT, what are the challenges they must address if called to introduce IoT across several business processes – for example, process or workflow automation?

4.       Given the continuing uncertainties arising from the pandemic. Is now the best time to consider adopting IoT into business processes? If yes, what is the better approach to ensure minimal disruption to existing operations, and minimised risks?

5.       What is your advice for CIOs and CTOs to help guide the successful adoption of IoT into the business process?

6.       You spoke about partnerships and core competencies, what is Telenor Connexion’s value proposition in an organisation’s IoT journey?