“Given the potential of AI, we should all be focused on ensuring it's part of our strategic roadmap. It is an excellent tool that is going to allow us to rethink, reimagine how we deliver products, services and experiences to our client base”, says Prashant.
“Is it machine learning? Is it deep learning? Is it unstructured data? Is it predictive models? What is it that you really want to achieve?
While it's powerful, it requires other catalysts to function. You can't start building a roof and then look at the foundation.
Building the right data foundation, having a robust change management plan and then ensuring there are business use cases that are aligned with the outcome.”
On the Insurance Coffee House Podcast this week, Prashant discusses:
- starting his career for a business outsourcing processing company over 20 years ago in India
- transitioning in to managing processes and people mostly in P&C specialty lines and understanding the insurance lifecycle, from acquisition to claims
- being part of the mission to make MSIG USA a data-driven insurer
- change management and its impact on people, infrastructure and day-to-day operations
- AI requiring other catalysts to function properly
- adding skills and embracing the AI implementation journey
- what he looks for in an insurance executive search partner
- being entrepreneurial and keeping a smile on your face
- and the one lesson his job has taught him, he wants everyone to learn
“Change is hard. We use different terminologies in an organization to express our goals, objectives and why we are doing it. But it all boils down to one thing and that is change.
Think about what you're doing as change and keep that in mind, because if you lead with that, it helps you understand how to increase adoption and how to make change stick.”
Connect with Prashant Hinge on LinkedIn or find out more about MSIG USA
The Insurance Coffee House Podcast is hosted by Nick Hoadley, CEO of Insurance Search.
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