Rajeev Doddaballapur

This is big news and this is why....Gartner specifically highlights Guidewire Software’s expansive #SaaS offerings. This means our customers have a high degree of self-sufficiency, giving them greater #autonomy over ongoing change-management and faster access to the latest and greatest software innovations. It also highlights our massive investments in R&D - significantly higher than any market competitor! This is further bolstered by our ecosystem - the largest of any vendor in the report. We'll continue to bring this type of offering to the #LondonMarket, which has been underserved for #CoreTechnology for far too long. https://bit.ly/4eLp0Fy

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Here's another sketch board from the Cognizant Insurance Summit. This one summarizes a session I moderated, "The Inspired Insurer." Are we, as an industry, ready to pursue the culture change that will drive Exponential Advantage? Let me know in the comments! Sarat Varanasi Cognizant Amazon Web Services (AWS) Google Microsoft SalesforceServiceNow

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InsurTalk Minute #4 - Vandana Sule from EY provides a quick synopsis on what carriers are looking to do over the next 3-5 years. Guidewire Software #guidewireconnections

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MEMIC selected Guidewire PolicyCenter and Guidewire BillingCenter on Guidewire Cloud as its new policy administration, underwriting, and billing management systems for business growth. #GuidewireCloud #insurance #innovation #insuranceinnovation #insurtech #insurancetechnology #propertyandcasualtyinsurance #businessgrowth

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Digital Distribution Transformation is the need of the hour, but it requires to be adapted to ensure a strong adoption. Experiential learning is key to ensure success.

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We are excited to share the news on the launch of EXL Insurance LLM, the first industry-specific LLM for life insurance, as rightly been reported by Life Annuity Specialist. This innovative model enhances underwriting and claim processing, outperforming general models by 30%. With features like data extraction, anomaly detection, and document summarization, it aims to improve efficiency and accuracy with our clients ready to implement it in the coming weeks. Click the link to read the article for more details! #EXL #InsuranceTech #AI

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It was a great pleasure to chair the panel and discuss future AI trends in insurance at #machinecon2024

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Interesting to note that the headline factoid below coincided with #bfm's interview with #etiqa CEO. ❌ when an #EV gets into an accident, tends to result in a total loss. This is due to high cost of repairs. ✅ However there's 2 segment of users (from the interview), the go #green types who tends to be careful drivers ❌ the ones that bought an EV to experience supercar power and high acceleration without the price. ✅etiqa commands 60% of the EV car insurance, not surprising. I'm an Etiqa customer myself cause of their awesome #pricing and #digital experience ❌ the question is the tipping point of more dangerous drivers racking up claims and eventually the need to raise premiums. ✅ key though, per the news snippet is making money from salvaging parts. Looks like a business opportunity!

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How Technology fails us! #genAI #techfails A leading Indian insurer sent me a discrepancy that there is a mismatch in my name and Date of Birth with the policy records and eKYC. What is the mismatch? The name is spelt in “ALL CAPS” in one and “all small” in the other — all alphabets and the string being the exact copy. As for the date, the separator is a ‘hyphen’ in one versus a ‘slash’ in the other !! All numerals/numbers are exact and in the exact same order too. Need to remember the customer has no control in the data entry of either one of them !! In the era of NLP and LLM and Gen AI - how do you accept this??? How do service providers get it right the first time? #firsttimeright

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The reinsurance industry is on the cusp of a technological revolution, with generative AI poised to reshape its landscape. According to EY’s Global Insurance Outlook 2024, 52% of insurance CEOs plan substantial AI investments this year, foreseeing new job opportunities alongside AI-driven changes. AI has the potential to revolutionize underwriting, claims management, and customer interactions. By fostering cross-industry collaborations and ecosystem partnerships, insurers can craft tailored solutions to address emerging risks effectively. #Reinsurance #Technology #AI #Innovation #InsuranceIndustry #FutureReady

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A common theme during climate week so far has been how to define, understand and price risks that are new to the market (hello, energy transition) or evolving rapidly (convective storms, anyone?). In both instances, the conversation turns to data and predictive models, with the typical carrier holding back until the "insurability" - ie, profitability - of the risk is better understood. But we can't afford to sit back and wait. That's why I LOVE finding actuaries who are also founders, actuaries who are not afraid of a new risk category, actuaries that use common sense and curiosity to apply new data sources to classic questions. Somil Jain, FCAS is one of those actuaries. He doesn't just talk the talk, but also walks the walk (and yes, he is actively walking at his desk during this interview). Creativity and startup innovation looks different in a regulated environment like insurance, which means we need more technical experts at the table to build feasible market solutions - not as competing experts but as an integrated team. Watch the latest episode of Birds Eye View to hear Somil and I riff on these themes. #climatechange #risk #riskmanagement #actuary #pricing #insurtech #productdevelopment #insuranceproduct #insurance #innovation #fertility #interview #climateweek #programmanagement

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