Digital transformation of the insurance industry
On December 7, the 3rd Insurance Industry Digital Transformation Conference and the 16th Insurance Information Technology Conference hosted by China Banking and Insurance News were held in Quanzhou, Fujian Province.
Xu Jianguo, Director of Information Technology of CPIC GroupAt the meeting, he said that the digitalization process of the insurance industry has gone through three stages: informatization, online and digitalization, and with the rapid development of large models and other technologies, the insurance industry has entered the era of "digital intelligence".
Xu Jianguo said that the insurance industry has three main perspectives on digital transformation and innovation, namely:Insurance Value Chain Perspective, InsurTech Perspective, and Digital Maturity Perspective
First, from an insurance value chain perspectiveDigital customer insight capabilities are the core, and related capabilities include digital marketing capabilities, digital ecosystem capabilities, digital product innovation capabilities, digital asset management capabilities, and digital operation capabilities. Xu Jianguo believes that these detailed scenarios provide a good entry point for insurance companies to start implementing digital transformation.
Secondly, from an InsurTech perspectiveTechnology applications can be considered to start with the strongest disruptive power and maximum application value, create digital application products that are in line with their own business, and establish digital competitive advantages with their own characteristics. Xu Jianguo mentioned that "deep tech" innovation combines science, R&D and engineering to solve seemingly unsolvable problems and have a revolutionary impact on business and society. He believes that the mature application of these "deep technologies" will have a significant impact on the whole society, and also provide a good technical support for the business model innovation of insurance companies.
Finally, on the digital maturity perspectiveXu Jianguo believes that this includes six evaluation indicators, including development strategy, new capabilities, system solutions, governance system, business innovation and transformation, and comprehensive efficiency. He said that the maturity level of enterprise digital transformation is divided into five levels: normative level, scenario level, domain level, platform level and ecosystem level, and the maturity assessment indicators at each level will have relatively large guidance and reference value.
When talking about the digital transformation of CPIC Group, Xu Jianguo said that in recent years, CPIC Group has actively responded to the requirements of the overall layout plan for the construction of "Digital China" and the Guiding Opinions on the Digital Transformation of the Banking and Insurance Industries, and has continued to promote the digital transformation of the entire value chain through the company's strategic traction. CPIC has launched a number of digital product applications in some key business areas, effectively enabling the high-quality development of the company's business.
Overall, CPIC's practice and exploration in the digital transformation of the insurance industry provide a useful reference for the development of the entire industry. From digital customer management to digital operations, to digital risk control and digital workforce, CPIC's innovative applications not only enhance the competitiveness of the company, but also open up new perspectives and ideas for the future development of the insurance industry. Xu Jianguo said.
The conference was supported by Minya Insurance Brokers, Fubon Property Insurance, Straits Insurance, Huawei, and Kingsoft Office.
Reporter Fan Rongjie.
Edited by Han Yeqing.