The Digital Insurer Robert Cummings Head of the Industry Business Unit Insurance January 2016
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The Digital Insurer
Robert Cummings Head of the Industry Business Unit InsuranceJanuary 2016
1666 The Great Fire of London
Risk
Calculate risk
Price risk
$Price
Cover risk
Policy
Pooling risk
Reduce risk?
Reduce risk?
Reducethe financial impact of
risk
But what if . . .technology could reduce risk?
Reimagining
insurance
Omnichannel
Omnichannel
Networks
1666 Today 2020
So what is changing?
Is risk going away?
Climate change
Populationchange
Politicalinstability
Financialcrises
Cybercrime andterrorism
…
1666 Today 2020
ØPolicy
...$...
1666 Today 2020
Mathematical abstraction
of reality
Physical, real-world
reality
Ø
1666 Today 2020
Policy
...$...
Unknownestimated
risk
Known controlled
Risk
Ø
1666 Today 2020
Policy
...$...
Reduced financial
impact of loss
Reduced probability
of loss
Ø
1666 Today 2020
Policy
...$...
Productcentric
Customercentric
Ø
1666 Today 2020
Policy
...$...
Insurercentric
Network centric
Ø
1666 Today 2020
Policy
...$...
Financialservice
Riskservice
Ø
1666 Today 2020
Policy
...$...
Ø
1666 Today 2020
Policy
...$...
Digital core
Omnichannel network
Internet-of-Thingsnetwork
Service and suppliernetwork
Workforce network
SAP HANA Cloud Platform
Digital core
Omnichannel network
The Internet of Thingsnetwork
Service and suppliernetwork
Workforce network
SAP HANA Cloud Platform
Front office
Middle office
Back office
SAP HANA platform
Property Life Health
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