Data Analytics and Artificial Intelligence

Professionals should have a deep understanding of customer and internal business data, beyond basic tools like Excel or Salesforce. They need insights into various aspects, including business strategies, internal operations, insurance products, claims, customer behavior, and security. Knowledge of AI technologies is crucial for automation, trend prediction, product innovation, and enhanced customer experiences.

Cybersecurity and Data Privacy

Knowledge and expertise in cybersecurity, data privacy, risk management, and regulatory compliance are essential. This includes understanding offline security risks and implementing measures to protect sensitive information. Technology teams should also be familiar with cyber insurance policies to safeguard against potential breaches.

Technology Evaluation and Innovation

Leaders should possess the ability to distinguish between outdated incumbent technology platforms and cutting-edge insurtech solutions. They need to balance the evaluation process to make informed decisions about adopting technologies that align with strategic goals and promote innovation.

Industry Awareness

Insurance professionals should stay informed about technological trends in other industries and learn from those ahead of the curve in using technology to serve customers. This awareness helps in adopting best practices and staying competitive in the evolving landscape.