Towards Excellence through Technology -...

Towards Excellence

through Technology2nd TIBA Annual Conference - Zanzibar

23 September 2016

_____________

Antony Nzamu

kpmg.com/eastafrica

1

5

2

3

4

Unleashing the power of technology…

1 52 3 4

© 2016 KPMG Advisory Services Limited, a Kenyan Limited Liability Company and a member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative (“KPMG

International”), a Swiss entity. All rights reserved The KPMG name and logo are registered trademark or trademarks of KPMG International.

Technology trends

1

Big Data & Analytics

Cyber Security

Digital and IoTFinTech

The insurance industry disruption is creating both significant opportunities and threats

1 52 3 4



Megatrends…

1

DemographicsM

eg

atre

nd

s a

nd

g

am

e-ch

an

ge

rs

Environment

Technology

Social values,

behavior and

ethics

Value Chain

Clients

Products &

brands

Markets

Technology

Governance

Talent

1

2

3

4

5

6

7

1 52 3 4



1

1

5

2

3

4

…to achieve Insurance excellence!

1 52 3 4



Telematics Transmit Driver Data to Insurer

2

…e.g. living roads project in Nairobi

1 52 3 4



Driverless Cars

2

Three laws mooted:• property damage over personal injury • never distinguishes between humans

by age or race• the car’s manufacturer is liable

1 52 3 4



2

Climate Corporation Pays Claims Real Time

1

5

2

3

4

What does this mean for YOU…

1 52 3 4



3

1 52 3 4



Back to basics - FOCUS

3

■ New laws on personal info

■ Mergers and acquisitions

■ Solvency II and global standards

■ Cyber security to protect client information held

Regulation & Compliance

■ Change of business models and efficient value-chain processes

■ Innovate for success

■ Real-time customer experience; payment channels, mobile claims

Increased Automation

■ customer analytics to improve underwriting, pricing and marketing

■ Customers are mobile

■ FinTech and Banc-assurance leap-frogging

MoreCustomer

Centric

1 52 3 4



Leveraging the power of ... data

3

1 52 3 4



On-demand micro-insurance; Use of mobile insurance apps

3

1 52 3 4



Tapping on the social media…

3

Insurance Core Functions

Front Office / Client

Policy Admin & Underwriting

Comms & Talent

Ho

w C

an

So

cia

l He

lp?

Product Development &

Refinement

Marketing to High Growth

Sectors & Targets

Customer Retention

Acquiring New Business

Agent Visibility

Increasing Risk Awareness

and Customer Engagement

Customer Profiling & Risk

Analysis

Underwriting Investigation

Fraud Investigation

Informing Customer About

Claims Process

Employee Communication

Talent Acquisition

Policy Servicing

Claims & Back Office

1

5

2

3

4

Key takeaways…

1 52 3 4



4

1

5

2

3

4

Q & A

1 52 3 4



Thank YOU! Ahsante sana!

5

©2016 KPMG Advisory Services Limited, a limited liability company and a member firm of the KPMG network

of independent member firms affiliated with KPMG International Cooperative ("KPMG International"), a Swiss

entity. All rights reserved.

The KPMG name, logo are registered trademarks or trademarks of KPMG International.

The information contained herein is of a general nature and is not intended to address the circumstances of

any particular individual or entity. Although we endeavor to provide accurate and timely information, there can

be no guarantee that such information is accurate as of the date it is received or that it will continue to be

accurate in the future. No one should act on such information without appropriate professional advice after a

thorough examination of the particular situation.

kpmg.com/socialmedia kpmg.com/app

Towards Excellence through Technology -...

Documents

Transcript of Towards Excellence through Technology -...