Event Write-Up: Commercial Lines Innovation USA, Hybrid (Virtual and Chicago), May 2022
Last week, we attended the Commercial Lines Innovation USA Hybrid event, held virtually over the first two days (May 9-10) and in-person in Chicago on day three (May 11). Each day of the conference covered a unique theme: Distribution and customer experience on day one, underwriting and pricing on day two, and innovation in the commercial lines sector on day three.
Attendees had the opportunity to interact with other pioneering insurers, share insights on the latest innovations in commercial lines and learn about the changing needs of brokers and customers. We established three aims ahead of bringing Eigen to Commercial Lines Innovation USA: Network with industry leaders and key figures in the sector, answer any technical questions they have regarding machine learning, natural language processing or AI technology, and educate insurers on the operational benefits of using intelligent automation.
We had our Principal Product Manager, Chris Mullan, speaking on a panel on the second day discussing how to reduce the touchpoints of risk assessment with rules-based automation, with a key takeaway being “The value that comes from automation in the underwriting process is speeding up time-to-decision and freeing up time for that decision.”
At the live event on day three, we had a booth staffed by Ro, Jared and Jacob where we networked and met with delegates to talk about automation solutions to meet their business needs. One of our solutions consultants, Jacob, provided a short tech presentation, demonstrating our platform and its capabilities to a live audience explaining the operational benefits for insurers.
We obtained several great insights from our time at Commercial Lines USA and the conversations we had there, including a clear understanding of how intelligent automation can be used to unlock data throughout the value chain, drive efficiencies in insurance operations and tackle the rising market demands.
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