Summary:

In this episode of Insurance Unplugged, Lisa Wardlaw interviews Pradeep Singh, the Global Head of Insurance Digital Core at Capgemini, about the role of AI in insurance. They discuss the current state of insurance in relation to AI and the potential for AI to transform the industry. They emphasize the importance of focusing on the core of digital transformation and building core strength before implementing AI solutions.

They also explore the concept of customer-led design and the need for intuitive and seamless customer experiences. Pradeep highlights the potential of AI and GenAI to improve efficiency, innovation, and personalization in insurance.

Takeaways:

Focus on building the core of digital transformation before implementing AI solutions.

Strive for intuitive and seamless customer experiences.

AI and GenAI have the potential to improve efficiency, innovation, and personalization in insurance.

Partner with other organizations to leverage AI capabilities.

Consider the balance between personalized information and privacy concerns.

Sound Bites:

"Gen .ai prime time is here"

"AI is the actual call to action that says, like the iPhone, right? You didn't do anything the same after you had the iPhone"

"Risk has always been dynamic. Risk is never static. It's just that our systems and our infrastructure and processes were a point in time"

Chapters:

00:00 Introduction and Background

03:00 The Core of Digital Transformation

06:03 Customer-Led Design and Intuitive Experiences

11:13 The Potential of AI and GenAI in Insurance

20:21 Breaking Down Silos and Creating Seamless Experiences

28:02 Building a Strong Core for the Future

Keywords:

AI, insurance, digital transformation, customer experience, core strength, customer-led design, efficiency, innovation, personalization