ITC DIA Europe 2024 : Future of insurance driven by three waves of innovation

Our Insight ~Three waves of innovation~

ITC DIA Europe 2024 featured twelve core themes, each addressing specific challenges and growth opportunities for the insurance industry. These themes included:

• Digital Transformation
• Customer Engagement
• Data Analytics
• Cybersecurity
• AI & Automation
• Regulatory Compliance
• Blockchain
• Cloud Computing
• Internet of Things (IoT)
• Sustainability and ESG
• InsurTech Integration
• Generative AI

Each of these themes represents both a challenge and an opportunity for key industry players. Among all these themes, Generative AI garnered significant attention. Many participants showcased their capabilities in this them, and journalists covering the event often made Generative AI the focal point of their articles.

NTT DATA also recognizes Generative AI as one of the three waves of innovation set to transform the industry. Through roundtable discussions with key players, keynote presentations, and booth exhibits, NTT DATA shared insights and capabilities on the three key innovation waves:

Digital : NTT DATA excels in driving digital transformation across the insurance sector. By leveraging advanced data analytics and AI, the company provides real-time insights that enable insurers to make swift, data-driven decisions. Our expertise in digital transformation (DX) helps clients optimize operational efficiencies and enhance customer experiences. NTT DATA offers end-to-end digital services, from initial consulting and strategy development to implementation and ongoing support. Our customer-centric approach ensures that digital solutions are tailored to meet specific client needs, thereby fostering improved engagement and satisfaction.

Connected : NTT DATA's strength in "Connected" technologies is evident through our integration of IoT and real-time monitoring systems. These capabilities allow for continuous data collection and analysis, enhancing risk assessment and management. Our ability to integrate disparate data sources provides a unified view of the customer, driving more personalized and timely interventions. By facilitating seamless connectivity between various systems and devices, NTT DATA enables insurers to offer more proactive and predictive services, ultimately leading to better customer experiences and operational efficiencies.

Generative : In the realm of "Generative" technologies, NTT DATA is at the forefront of implementing Generative AI to revolutionize insurance operations. Their applications of Generative AI range from automating customer interactions to generating customized insurance products, significantly improving both efficiency and personalization. NTT DATA ensures the successful deployment of Generative AI projects by focusing on strategic governance. This includes addressing data protection, regulatory compliance, and business ethics from the outset. Their continuous investment in R&D ensures that they remain at the cutting edge of AI innovations, further solidifying their leadership in the industry.

Through our strengths in Digital, Connected, and Generative technologies, NTT DATA is well-positioned to lead the insurance industry towards a more efficient, personalized, and innovative future.

Our Presence

As part of our presence at ITC DIA Europe 2024, NTT DATA organized and participated in several key activities designed to share our insights and capabilities. These efforts led to meaningful interactions with numerous key industry players. Our activities fostered valuable discussions and highlighted our thought leadership in the industry.

Webinar : In May, as part of our pre-event promotion, NTT DATA hosted a webinar featuring discussions on the "Insurtech Global Outlook 2024." This session attracted C-level executives from key industry players in North America and Europe, providing valuable insights into the future of Insurtech.

Kick-Off Summit : Held at the unconventional yet captivating Our House Experience Amsterdam, the Kick-Off Summit provided a perfect backdrop for engaging discussions. The unique setting delighted guests and encouraged open dialogue. We organized various roundtables covering diverse themes, engaging clients and analysts in meaningful discussions about the future of the insurance industry.

Booth Exhibit : NTT DATA's booth featured an impressive demo of the "Digital Human." This AI-driven exhibit showcased the potential of AI in performing agency operations, highlighting practical applications and the transformative impact of AI on customer interactions.

Keynote Presentation : One of the event's most impactful presentations was delivered by Carlos Ordóñez, representing NTT DATA EMEAL. His keynote earned the prestigious "ITC DIAmond Award," underscoring the profound influence of his insights on the attendees. His speech detailed how Generative AI and other advanced technologies could drive the insurance industry's evolution.

Our Statement for Insurance Future

NTT DATA's involvement at ITC DIA Europe 2024 underscored our commitment to driving innovation and transformation within the insurance industry. Throughout the event, we leveraged key activities, including webinars, the kick-off summit, booth exhibits, and keynote presentations, to share our insights and capabilities. These efforts facilitated meaningful interactions with numerous key industry players and highlighted our thought leadership in the industry.

Our focus on Digital, Connected, and Generative technologies positions us at the forefront of the insurance sector's evolution. We demonstrated how these three waves of innovation could help insurers navigate current challenges and capitalize on new opportunities. By providing real-time insights, seamless connectivity, and advanced AI applications, NTT DATA is well-equipped to support the industry in creating a more efficient, personalized, and innovative future.

To continue this momentum, NTT DATA consistently publishes thought leadership content on our website, offering valuable insights into industry trends and technological advancements. We invite you to explore our monthly publications to stay informed about the latest developments in the insurance sector. https://insurance.nttdata.com/thought-leadership/

Looking ahead, we are excited to extend our presence at ITC Vegas in October. This event will provide another platform for us to share our expertise on North American market trends and engage with key industry players. By participating in these significant events, NTT DATA remains dedicated to fostering innovation and collaborative growth within the insurance industry.

NTT DATA is committed to being a trusted partner in helping insurers overcome industry challenges. We will continue to provide valuable insights and proposals to support the future success of the insurance sector.