The world is moving fast. Each industry is very different today than it was 10 years ago. The change 10 years from now will be even greater. Where will these changes take place in the life insurance industry and what are the critical success factors for winning companies? Levenson will share LIMRA’s research and best thinking to guide companies on how to expertly navigate what’s ahead.

Competition, ideation, and the process of product development and delivery have evolved over time in a quest to build appealing solutions for both advisors and clients. Charest, Levy, Puttick and Innes will offer their perspectives that can help shape the future of product creation and innovation. They will expound on the many factors that contribute towards a competitive and changing product development landscape.

To be competitive today, innovation is no longer a future state idea but a steady state necessity. Artificial intelligence can be leveraged to bring ideas to life. Many key insurance industry processes can be propelled in speed and expanded in coverage, with increased accuracy and consistency. Advancements can span core processes like underwriting and claims to analytics related to risk assessments and predictive analytics. Customer service and support enabled by chatbots powered by AI can enhance the client experience. Dutt, Panter and Patel will explore some of these ideas to help you think about how you might be able to apply the principles in your own organizations. And they will even show you some low code opportunities!

The pressure to drive revenue and efficiency means companies need to offer customers quick answers and instant assistance from the moment they land on a website or other digital channel. Conversational artificial intelligence (AI) is making that possible through smart agents that require little human intervention. But when is the right time to deploy such technologies and how can IT leaders ensure they deliver the value their senior executives expect? Meanwhile, as prospects are cultivated and customers nurtured, employees have to ensure they are taking the right actions with customers and collaborating with team members. That’s where conversation intelligence comes in, and it requires an equally well-thought-out plan to achieve results. Lehman and Dyer will engage in an open conversation about the use cases that help build a business case for bringing conversational AI and conversation intelligence into an organization; the people, process and technology considerations that lead to successful deployments; and the IT metrics and business outcomes that will ensure maximum return on investment.

Not unlike every other carrier in the industry, Foresters Financial has navigated market and workplace trends since the COVID-19 pandemic. Under the deft leadership of Berman, this purpose-based fraternal life insurance company has also continued to advance its transformation strategy. He will address consumer demand in the face of more challenging macro-economic headwinds, as well as product, distribution, and underwriting innovation.

Claims adjudicators rely heavily on facts and precise information to decide whether to approve or deny a claim. Rapid advances in the fields of medicine, big data and artificial intelligence are making the assessment function more exact but also more complicated… and arguably, more subjective. Capato, Carbis, Nelmes, and Stockford will examine how these factors are impacting the claims adjudication process and transcending it beyond pure science.

A “mild” COVID state, economic fluctuations, burgeoning artificial intelligence, shifting demographic cohorts, fickle consumers, new regulations… do they foretell boom or bust for Canadian insurers? Carroll, Chan, Laflamme, and Thomas will discuss how they are leveraging these challenges (or opportunities) to reshape their organizations’ business models and culture. This esteemed panel of industry executives will also shed light on what it takes to stay ahead of the curve in today’s unpredictable and evolving environment.